Spring Capital Management LLC Acquires 5,665 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Spring Capital Management LLC lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 55,381 shares of the company’s stock after purchasing an additional 5,665 shares during the period. McCormick & Company, Incorporated makes up approximately 3.0% of Spring Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Spring Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $3,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MKC. Union Savings Bank bought a new position in McCormick & Company, Incorporated during the second quarter worth $27,000. Legacy Financial Group LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $29,000. Anchor Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $36,000. Point72 Hong Kong Ltd bought a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth $44,000. Finally, ICA Group Wealth Management LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $46,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 1.6 %

NYSE MKC opened at $76.03 on Thursday. The stock’s 50-day moving average price is $67.73 and its 200-day moving average price is $67.74. The company has a quick ratio of 0.28, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The company has a market capitalization of $20.39 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 4.20 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.82 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Analysts Set New Price Targets

A number of research firms have recently commented on MKC. Barclays lifted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, Citigroup boosted their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.25.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Profile

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.