Sienna Gestion Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Sienna Gestion acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 80,398 shares of the company’s stock, valued at approximately $5,701,000.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $160,999,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in McCormick & Company, Incorporated by 46.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,346 shares of the company’s stock valued at $776,000 after acquiring an additional 3,607 shares during the last quarter. Clearbridge Investments LLC grew its position in McCormick & Company, Incorporated by 49.0% in the fourth quarter. Clearbridge Investments LLC now owns 826,433 shares of the company’s stock worth $56,545,000 after acquiring an additional 271,778 shares during the period. Corient Private Wealth LLC increased its stake in McCormick & Company, Incorporated by 14.4% during the fourth quarter. Corient Private Wealth LLC now owns 677,195 shares of the company’s stock worth $46,334,000 after acquiring an additional 85,242 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth $672,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $83.90 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $85.49. The firm has a market cap of $22.54 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76. The company’s 50 day moving average is $78.23 and its two-hundred day moving average is $74.18.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a $0.42 dividend. The ex-dividend date was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.00%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of research analyst reports. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen decreased their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.38.

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.