Semanteon Capital Management LP Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Semanteon Capital Management LP purchased a new position in McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 17,934 shares of the company’s stock, valued at approximately $1,227,000. McCormick & Company, Incorporated makes up approximately 0.8% of Semanteon Capital Management LP’s holdings, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKC. Wellington Management Group LLP boosted its stake in shares of McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after purchasing an additional 42,625 shares in the last quarter. Cullen Investment Group LTD. purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $5,728,000. International Assets Investment Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 7,344.4% in the 4th quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock valued at $7,946,000 after purchasing an additional 114,572 shares in the last quarter. abrdn plc boosted its stake in shares of McCormick & Company, Incorporated by 19.1% in the 4th quarter. abrdn plc now owns 443,332 shares of the company’s stock valued at $30,333,000 after purchasing an additional 71,133 shares in the last quarter. Finally, Jacobs & Co. CA boosted its stake in shares of McCormick & Company, Incorporated by 12.7% in the 4th quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock valued at $9,780,000 after purchasing an additional 16,098 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.88.

Insider Transactions at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s 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 transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,726 shares of company stock worth $2,504,728. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of McCormick & Company, Incorporated stock traded down $0.29 during trading on Thursday, hitting $75.56. The stock had a trading volume of 1,729,728 shares, compared to its average volume of 2,063,404. The firm’s fifty day simple moving average is $71.42 and its 200-day simple moving average is $67.75. The stock has a market cap of $20.28 billion, a PE ratio of 28.84, a PEG ratio of 3.85 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

McCormick & Company, Incorporated Company Profile

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.