Semanteon Capital Management LP Invests $1.23 Million in McCormick & Company, Incorporated (NYSE:MKC)

Semanteon Capital Management LP bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,934 shares of the company’s stock, valued at approximately $1,227,000. McCormick & Company, Incorporated accounts for about 0.8% of Semanteon Capital Management LP’s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds also recently made changes to their positions in MKC. Avior Wealth Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 91.9% during the third quarter. Avior Wealth Management LLC now owns 1,182 shares of the company’s stock worth $89,000 after purchasing an additional 566 shares during the period. Meridian Wealth Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 80.3% during the third quarter. Meridian Wealth Management LLC now owns 16,610 shares of the company’s stock worth $1,256,000 after purchasing an additional 7,397 shares during the period. SS&H Financial Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated during the third quarter worth approximately $202,000. Oak Thistle LLC bought a new position in shares of McCormick & Company, Incorporated during the third quarter worth approximately $1,038,000. Finally, Czech National Bank increased its holdings in shares of McCormick & Company, Incorporated by 47.8% during the third quarter. Czech National Bank now owns 43,887 shares of the company’s stock worth $3,320,000 after purchasing an additional 14,193 shares during the period. 79.74% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,726 shares of company stock valued at $2,504,728. Insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

MKC has been the topic of several analyst reports. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Barclays increased their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. 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 report on Wednesday, March 27th. Finally, Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded down $0.29 during mid-day trading on Thursday, reaching $75.56. The company had a trading volume of 1,729,728 shares, compared to its average volume of 2,063,404. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a market cap of $20.28 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.85 and a beta of 0.74. The business has a fifty day simple moving average of $71.42 and a 200 day simple moving average of $67.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion for 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 company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

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.