Ilmarinen Mutual Pension Insurance Co Acquires 44,000 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 163.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,000 shares of the company’s stock after acquiring an additional 44,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in McCormick & Company, Incorporated were worth $5,413,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. International Private Wealth Advisors LLC raised its position in McCormick & Company, Incorporated by 3.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after purchasing an additional 136 shares during the period. Hazlett Burt & Watson Inc. increased its holdings in shares of McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock worth $382,000 after buying an additional 137 shares during the period. Empower Advisory Group LLC increased its holdings in shares of McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after buying an additional 138 shares during the period. Hunter Associates Investment Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after acquiring an additional 153 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in McCormick & Company, Incorporated by 1.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock valued at $755,000 after acquiring an additional 154 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Down 5.5 %

NYSE:MKC opened at $76.36 on Friday. The company has a 50-day moving average price of $79.91 and a 200-day moving average price of $78.72. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 3.76 and a beta of 0.71. 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 12 month low of $66.88 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 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 company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’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 year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.36%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other 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 value of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares of the company’s stock, valued at $184,497.72. This represents a 54.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is owned by corporate insiders.

About McCormick & Company, Incorporated

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.