Voya Investment Management LLC Raises Stake in McCormick & Company, Incorporated (NYSE:MKC)

Voya Investment Management LLC increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,530,972 shares of the company’s stock after buying an additional 326,041 shares during the quarter. Voya Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $269,060,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MKC. Syon Capital LLC grew its holdings in McCormick & Company, Incorporated by 8.0% during the fourth quarter. Syon Capital LLC now owns 3,634 shares of the company’s stock valued at $277,000 after purchasing an additional 270 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of McCormick & Company, Incorporated by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company’s stock worth $245,114,000 after purchasing an additional 190,856 shares in the last quarter. MGO One Seven LLC lifted its stake in shares of McCormick & Company, Incorporated by 8.2% during the 4th quarter. MGO One Seven LLC now owns 6,116 shares of the company’s stock valued at $466,000 after buying an additional 461 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in McCormick & Company, Incorporated by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 601,322 shares of the company’s stock worth $45,846,000 after buying an additional 2,766 shares during the period. Finally, Stifel Financial Corp grew its stake in McCormick & Company, Incorporated by 1.9% in the 4th quarter. Stifel Financial Corp now owns 336,953 shares of the company’s stock valued at $25,691,000 after buying an additional 6,311 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $76.72 on Thursday. The firm’s fifty day moving average is $79.25 and its 200 day moving average is $77.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The firm has a market cap of $20.58 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.76 and a beta of 0.75.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.35%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,842 shares of company stock valued at $6,478,332. Company insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MKC shares. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. TD Cowen raised 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 note on Wednesday, January 8th. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.14.

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.