Mather Group LLC. Invests $162,000 in McCormick & Company, Incorporated (NYSE:MKC)

Mather Group LLC. acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,114 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds also recently made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $36,000. VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $44,000. Private Trust Co. NA lifted its stake in McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares during the last quarter. Valley National Advisers Inc. lifted its stake in McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in McCormick & Company, Incorporated by 72.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after purchasing an additional 461 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Patricia A. Little sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,458 shares of company stock worth $8,286,114. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $68.56 on Friday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The company’s 50-day moving average is $72.57 and its 200 day moving average is $70.07. The stock has a market capitalization of $18.40 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.56 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.84 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Analyst Ratings Changes

Several analysts have weighed in on MKC shares. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Tuesday, April 2nd. Barclays boosted their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $78.00.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.