7,545 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Allstate Corp

Allstate Corp purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,545 shares of the company’s stock, valued at approximately $575,000.

Several other large investors have also made changes to their positions in MKC. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $30,000. Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $33,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $33,000. Lee Danner & Bass Inc. purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $37,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth about $38,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 0.1 %

Shares of MKC opened at $82.22 on Wednesday. The firm has a fifty day moving average price of $79.59 and a 200-day moving average price of $78.79. 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 market capitalization of $22.05 billion, a P/E ratio of 28.06, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MKC shares. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Finally, Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.75.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the 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 transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Profile

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.