Belpointe Asset Management LLC Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Belpointe Asset Management LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 974 shares of the company’s stock, valued at approximately $81,000.

Other large investors also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 412.8% during the 3rd quarter. Evermay Wealth Management LLC now owns 400 shares of the company’s stock worth $29,000 after acquiring an additional 322 shares during the last quarter. Align Wealth Management LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth approximately $44,000. Standard Family Office LLC bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $46,000. Finally, General Partner Inc. purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $60,000. 79.15% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Up 0.4 %

Shares of MKC opened at $88.92 on Friday. The stock has a market capitalization of $23.85 billion, a PE ratio of 36.00, a P/E/G ratio of 4.91 and a beta of 0.58. The company’s fifty day moving average is $83.46 and its 200 day moving average is $81.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.73. McCormick & Company, Incorporated has a fifty-two week low of $70.60 and a fifty-two week high of $94.52.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last released its quarterly earnings results on Tuesday, March 28th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.10. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. McCormick & Company, Incorporated had a net margin of 10.42% and a return on equity of 14.34%. McCormick & Company, Incorporated’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.61 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 24th. Shareholders of record on Monday, April 10th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, April 6th. This represents a $1.56 annualized dividend and a yield of 1.75%. McCormick & Company, Incorporated’s payout ratio is currently 63.16%.

Analyst Ratings Changes

MKC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of McCormick & Company, Incorporated from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 29th. Bank of America boosted their price objective on McCormick & Company, Incorporated from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday, March 29th. UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Friday, March 10th. They set a “sell” rating and a $71.00 target price for the company. JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $63.00 to $66.00 and gave the stock an “underweight” rating in a report on Wednesday, March 29th. Finally, StockNews.com started coverage on shares of McCormick & Company, Incorporated in a report on Thursday. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $80.10.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, CEO Lawrence Erik Kurzius sold 39,906 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $90.02, for a total transaction of $3,592,338.12. Following the sale, the chief executive officer now directly owns 159,579 shares of the company’s stock, valued at $14,365,301.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.00% of the stock is currently owned by insiders.

About McCormick & Company, Incorporated

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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.