Notis McConarty Edward Increases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Notis McConarty Edward boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 26.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,102 shares of the company’s stock after buying an additional 6,514 shares during the period. Notis McConarty Edward’s holdings in McCormick & Company, Incorporated were worth $2,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $223,202,000. State Street Corp boosted its holdings in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Amundi grew its position in McCormick & Company, Incorporated by 37.5% during the 4th quarter. Amundi now owns 1,372,446 shares of the company’s stock worth $102,275,000 after purchasing an additional 374,559 shares during the period. Teacher Retirement System of Texas raised its stake in shares of McCormick & Company, Incorporated by 9,283.1% during the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company’s stock valued at $27,999,000 after buying an additional 363,339 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock worth $34,298,000 after buying an additional 343,070 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 in the last 90 days. 23.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MKC. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.14.

McCormick & Company, Incorporated Stock Down 5.5 %

Shares of NYSE MKC opened at $76.36 on Friday. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company’s 50-day simple moving average is $79.91 and its 200-day simple moving average is $78.76. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.36%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

McCormick & Company, Incorporated 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.