Graypoint LLC holds a $376,000 stake in McCormick & Company, Incorporated (NYSE: MKC)


Graypoint LLC increased its stake in McCormick & Company, Incorporated (NYSE: MKC – Get Rating) by 4.0% during Q1, HoldingsChannel.com reports. The company held 3,767 shares of the company after purchasing an additional 144 shares during the period. Graypoint LLC’s holdings in McCormick & Company, Incorporated were worth $376,000 when it last filed with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. First National Bank of South Miami increased its position in shares of McCormick & Company, Incorporated by 843.8% during the fourth quarter. First National Bank of South Miami now owns 302 shares of the company valued at $29,000 after acquiring 270 additional shares last quarter. Confluence Wealth Services Inc. acquired a new equity stake in McCormick & Company, Incorporated during Q4 valued at approximately $29,000. Lumature Wealth Partners LLC increased its position in shares of McCormick & Company, Incorporated by 65.3% during the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company valued at $31,000 after acquiring 128 additional shares in the last quarter. Missouri Trust & Investment Co acquired a new equity stake in McCormick & Company, Incorporated during Q4, valued at approximately $34,000. Finally, Stonebridge Capital Advisors LLC acquired a new equity stake in McCormick & Company, Incorporated during Q4 valued at approximately $39,000. Institutional investors hold 74.86% of the company’s shares.

In other news from McCormick & Company, Incorporated, Chief Financial Officer Michael R. Smith sold 19,986 shares of the company in a trade dated Wednesday, April 20. The shares were sold at an average price of $104.04, for a total value of $2,079,343.44. Following the completion of the transaction, the CFO now directly owns 93,025 shares of the company, valued at $9,678,321. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders hold 15.90% of the shares of the company.

MKC has been the subject of several recent research reports. StockNews.com launched coverage on the shares of McCormick & Company, Incorporated in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. TheStreet downgraded shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a Wednesday, June 15 report. Finally, Deutsche Bank Aktiengesellschaft cut its price target on shares of McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating for the company in a report released Thursday. Four research analysts gave the stock a hold rating and one issued the company’s stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.50.

Shares of MKC opened at $83.25 on Friday. McCormick & Company, Incorporated has a 12-month low of $77.85 and a 12-month high of $107.35. The company has a market capitalization of $22.32 billion, a P/E ratio of 30.05, a P/E/G ratio of 4.58 and a beta of 0.45. The company has a 50-day moving average price of $92.36 and a 200-day moving average price of $95.96. The company has a quick ratio of 0.32, a current ratio of 0.73 and a debt ratio of 0.86.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last announced its results on Wednesday, June 29. The company reported earnings per share of $0.48 for the quarter, missing analyst consensus estimates of $0.65 per ($0.17). McCormick & Company, Incorporated achieved a return on equity of 18.00% and a net margin of 11.77%. The company posted revenue of $1.54 billion in the quarter, versus a consensus estimate of $1.61 billion. In the same period a year earlier, the company posted earnings per share of $0.69. The company’s revenue was down 1.3% year-over-year. As a group, research analysts expect McCormick & Company, Incorporated to post earnings per share of 3.15 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 25. Shareholders of record on Monday, July 11 will receive a dividend of $0.37. This represents a dividend of $1.48 on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, July 8. McCormick & Company, Incorporated’s dividend payout ratio is currently 53.43%.

McCormick & Company, Incorporated Profile (Get an assessment)

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning blends, 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.

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Want to see what other hedge funds hold MKC? Visit HoldingsChannel.com for the latest 13F filings and insider trading for McCormick & Company, Incorporated (NYSE:MKC – Get Rating).

Institutional ownership by quarter for McCormick & Company, Incorporated (NYSE: MKC)



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