Tufton Capital Management Buys 23,606 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Tufton Capital Management increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 207.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,993 shares of the company’s stock after purchasing an additional 23,606 shares during the quarter. Tufton Capital Management’s holdings in McCormick & Company, Incorporated were worth $2,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MKC. Legacy Financial Group LLC bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $29,000. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $36,000. Point72 Hong Kong Ltd purchased a new stake in McCormick & Company, Incorporated in the first quarter worth about $44,000. ICA Group Wealth Management LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $46,000. Finally, Milestone Investment Advisors LLC purchased a new stake in McCormick & Company, Incorporated in the third quarter worth about $47,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Up 0.2 %

MKC traded up $0.16 during trading on Thursday, hitting $72.43. 342,473 shares of the stock were exchanged, compared to its average volume of 2,070,798. The firm has a 50 day simple moving average of $70.31 and a 200 day simple moving average of $67.48. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 3.68 and a beta of 0.74. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,000 shares of company stock valued at $2,376,400. 22.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on MKC shares. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, April 2nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Finally, Barclays increased their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $77.88.

About McCormick & Company, Incorporated

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.