Peapack Gladstone Financial Corp Purchases 387 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Peapack Gladstone Financial Corp raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,218 shares of the company’s stock after buying an additional 387 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in McCormick & Company, Incorporated were worth $5,887,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in McCormick & Company, Incorporated by 21.7% in the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after acquiring an additional 24,881 shares during the period. DJE Kapital AG bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $4,228,000. SBI Securities Co. Ltd. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $234,000. Asset Management One Co. Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 16.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after buying an additional 19,491 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in shares of McCormick & Company, Incorporated by 16.4% during the 4th quarter. DAVENPORT & Co LLC now owns 87,870 shares of the company’s stock worth $6,699,000 after buying an additional 12,356 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 5.5 %

MKC opened at $76.36 on Monday. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The stock has a market capitalization of $20.48 billion, a PE ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.75. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $79.91 and a two-hundred day moving average price of $78.69.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MKC shares. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Argus lowered shares of 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 boosted their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.14.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’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 transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Gregory Repas sold 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock worth $6,478,332 over the last 90 days. 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.