Leonteq Securities AG purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,212 shares of the company’s stock, valued at approximately $968,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company’s stock valued at $2,225,828,000 after buying an additional 314,252 shares during the last quarter. State Street Corp increased its position in McCormick & Company, Incorporated by 5.1% during the 3rd quarter. State Street Corp now owns 15,522,816 shares of the company’s stock valued at $1,038,632,000 after purchasing an additional 747,844 shares during the period. Invesco Ltd. increased its position in McCormick & Company, Incorporated by 66.7% during the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock valued at $417,006,000 after purchasing an additional 2,494,544 shares during the period. Wellington Management Group LLP increased its position in McCormick & Company, Incorporated by 67.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock valued at $187,183,000 after purchasing an additional 1,124,003 shares during the period. Finally, ProShare Advisors LLC increased its position in McCormick & Company, Incorporated by 13.1% during the 3rd quarter. ProShare Advisors LLC now owns 2,389,571 shares of the company’s stock valued at $159,886,000 after purchasing an additional 277,257 shares during the period. 79.74% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MKC has been the topic of a number of research analyst reports. Sanford C. Bernstein reduced their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. TD Cowen reduced their price objective on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Zacks Research raised shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, UBS Group reduced their price objective on shares of McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Six investment analysts have rated the stock with a Buy rating and eight 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 price target of $64.27.
McCormick & Company, Incorporated Stock Up 0.6%
NYSE:MKC opened at $46.99 on Friday. The firm’s 50-day moving average price is $51.34 and its 200-day moving average price is $61.23. The company has a market capitalization of $12.63 billion, a PE ratio of 7.70, a P/E/G ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.
McCormick & Company, Incorporated Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.
Insider Buying and Selling at McCormick & Company, Incorporated
In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The shares were purchased at an average cost of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.60% of the stock is owned by corporate insiders.
McCormick & Company, Incorporated 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.
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