McCormick & Company, Incorporated $MKC Shares Bought by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 41.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,138 shares of the company’s stock after buying an additional 12,085 shares during the quarter. Cidel Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $2,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MKC. Deseret Mutual Benefit Administrators increased its holdings in shares of McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after acquiring an additional 164 shares during the period. Motiv8 Investments LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $28,000. GoalVest Advisory LLC purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth $28,000. Zions Bancorporation National Association UT grew its position in McCormick & Company, Incorporated by 340.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock worth $31,000 after purchasing an additional 357 shares during the last quarter. Finally, Union Savings Bank acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at $36,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $47.41 on Wednesday. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $78.16. The company has a 50-day moving average price of $48.68 and a 200 day moving average price of $58.24. The company has a market cap of $12.74 billion, a P/E ratio of 7.77, a PEG ratio of 2.26 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, July 6th. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares of the company’s stock, valued at $153,959.88. The trade was a 220.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group reduced their target price on shares of McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Barclays decreased their price objective on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Finally, BTIG Research initiated coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.90.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.