McCormick & Company, Incorporated $MKC Stake Raised by PGGM Investments

PGGM Investments boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 141.9% in the third quarter, HoldingsChannel reports. The fund owned 677,573 shares of the company’s stock after buying an additional 397,508 shares during the quarter. PGGM Investments’ holdings in McCormick & Company, Incorporated were worth $45,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of McCormick & Company, Incorporated by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares in the last quarter. Empowered Funds LLC grew its position in McCormick & Company, Incorporated by 19.0% during the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after purchasing an additional 941 shares in the last quarter. Woodline Partners LP grew its position in McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after purchasing an additional 6,189 shares in the last quarter. Inspire Investing LLC increased its stake in McCormick & Company, Incorporated by 12.9% in the 1st quarter. Inspire Investing LLC now owns 3,820 shares of the company’s stock valued at $314,000 after buying an additional 435 shares during the period. Finally, Czech National Bank lifted its position in McCormick & Company, Incorporated by 6.5% in the 2nd quarter. Czech National Bank now owns 61,764 shares of the company’s stock worth $4,683,000 after buying an additional 3,765 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2%

Shares of NYSE:MKC opened at $68.71 on Friday. The stock has a market capitalization of $18.44 billion, a PE ratio of 23.78, a P/E/G ratio of 4.11 and a beta of 0.62. McCormick & Company, Incorporated has a 1 year low of $62.64 and a 1 year high of $86.24. The firm has a fifty day moving average price of $66.77 and a 200 day moving average price of $68.27. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 66.44%.

Insider Activity at McCormick & Company, Incorporated

In other news, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the sale, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,639,161.66. This represents a 16.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 146,158 shares of company stock valued at $9,635,824. Corporate insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Barclays lowered their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, December 15th. Finally, Stifel Nicolaus reduced their price target on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.63.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.