Sei Investments Co. Has $12.31 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Sei Investments Co. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 18.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 161,478 shares of the company’s stock after purchasing an additional 24,786 shares during the quarter. Sei Investments Co.’s holdings in McCormick & Company, Incorporated were worth $12,311,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays dropped their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $81.47 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a market cap of $21.85 billion, a PE ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71. The firm’s 50 day moving average price is $79.26 and its 200 day moving average price is $78.83. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for 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% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

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.