NuWave Investment Management LLC Invests $149,000 in McCormick & Company, Incorporated (NYSE:MKC)

NuWave Investment Management LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKCGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,489 shares of the company’s stock, valued at approximately $149,000.

Other hedge funds have also added to or reduced their stakes in the company. First National Bank of South Miami grew its holdings in shares of McCormick & Company, Incorporated by 843.8% in the fourth quarter. First National Bank of South Miami now owns 302 shares of the company’s stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $29,000. Lumature Wealth Partners LLC raised its position in shares of McCormick & Company, Incorporated by 65.3% in the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock worth $31,000 after buying an additional 128 shares in the last quarter. Missouri Trust & Investment Co purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $34,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $39,000. 74.86% of the stock is owned by institutional investors.

Shares of NYSE MKC opened at $83.45 on Thursday. The firm’s 50-day moving average price is $94.29 and its 200-day moving average price is $96.11. The company has a current ratio of 0.73, a quick ratio of 0.32 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 4.34 and a beta of 0.45. McCormick & Company, Incorporated has a 12-month low of $77.85 and a 12-month high of $107.35.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last announced its earnings results on Tuesday, March 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. McCormick & Company, Incorporated had a net margin of 11.77% and a return on equity of 18.00%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company earned $0.72 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 25th. Stockholders of record on Monday, April 11th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $1.48 annualized dividend and a dividend yield of 1.77%. McCormick & Company, Incorporated’s payout ratio is 53.43%.

In other news, CFO Michael R. Smith sold 19,986 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $104.04, for a total value of $2,079,343.44. Following the sale, the chief financial officer now directly owns 93,025 shares in the company, valued at $9,678,321. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 15.90% of the company’s stock.

A number of brokerages have recently issued reports on MKC. Deutsche Bank Aktiengesellschaft reduced their price objective on McCormick & Company, Incorporated from $99.00 to $91.00 in a research note on Tuesday. StockNews.com initiated coverage on shares of McCormick & Company, Incorporated in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TheStreet lowered shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.00.

McCormick & Company, Incorporated Company Profile (Get Rating)

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, 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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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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