Waterloo Capital L.P. Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Waterloo Capital L.P. decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,072 shares of the company’s stock after selling 754 shares during the quarter. Waterloo Capital L.P.’s holdings in McCormick & Company, Incorporated were worth $387,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $30,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Barclays lowered their price target on 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. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.14.

McCormick & Company, Incorporated Trading Down 3.4 %

Shares of MKC stock opened at $73.87 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company’s 50-day moving average price is $79.84 and its 200-day moving average price is $78.62. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 3.76 and a beta of 0.75.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.44%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock worth $6,478,332 over the last quarter. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Profile

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.