Grimes & Company Inc. Boosts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Grimes & Company Inc. grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 10.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,096 shares of the company’s stock after acquiring an additional 8,559 shares during the period. Grimes & Company Inc.’s holdings in McCormick & Company, Incorporated were worth $7,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company’s stock worth $2,419,653,000 after buying an additional 303,973 shares during the period. Geode Capital Management LLC boosted its stake in McCormick & Company, Incorporated by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock valued at $458,114,000 after purchasing an additional 137,679 shares during the period. Northern Trust Corp boosted its stake in McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock valued at $281,573,000 after purchasing an additional 531,060 shares during the period. Voya Investment Management LLC boosted its stake in McCormick & Company, Incorporated by 10.2% during the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company’s stock valued at $269,060,000 after purchasing an additional 326,041 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company’s stock worth $245,114,000 after buying an additional 190,856 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $73.83 on Tuesday. The firm has a fifty day simple moving average of $74.57 and a 200-day simple moving average of $76.95. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.76 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,392 shares of company stock valued at $4,898,101 in the last 90 days. 23.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on MKC. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. UBS Group started coverage on shares of McCormick & Company, Incorporated in a research report on Monday. They set a “neutral” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $85.14.

McCormick & Company, Incorporated Company 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.