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

Bryce Point Capital LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,230 shares of the company’s stock, valued at approximately $551,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in McCormick & Company, Incorporated by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company’s stock worth $2,419,653,000 after purchasing an additional 303,973 shares in the last quarter. State Street Corp grew its position in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares during the period. Geode Capital Management LLC increased its stake in shares of McCormick & Company, Incorporated by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock worth $458,114,000 after acquiring an additional 137,679 shares in the last quarter. Norges Bank bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $223,202,000. Finally, Point72 Asset Management L.P. lifted its position in McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after acquiring an additional 568,276 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $81.34 on Thursday. The stock’s 50 day simple moving average is $79.76 and its 200 day simple moving average is $78.81. 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 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market capitalization of $21.81 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) 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 period in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share 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. Stockholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is presently 61.86%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays lowered their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the company’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 sale, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.80% of the company’s stock.

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.