Bryce Point Capital LLC Makes New $551,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Bryce Point Capital LLC purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,230 shares of the company’s stock, valued at approximately $551,000.

A number of other large investors have also recently modified their holdings of MKC. International Private Wealth Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after purchasing an additional 136 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in McCormick & Company, Incorporated by 2.8% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock worth $382,000 after buying an additional 137 shares in the last quarter. Empower Advisory Group LLC grew its stake in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after buying an additional 138 shares in the last quarter. Hunter Associates Investment Management LLC raised its position in shares of McCormick & Company, Incorporated by 1.2% during the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after buying an additional 153 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 1.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $81.34 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock’s 50 day simple moving average is $79.76 and its 200 day simple moving average is $78.81. The firm has a market cap of $21.81 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MKC. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $83.14.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.