Ensign Peak Advisors Inc Grows Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Ensign Peak Advisors Inc lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 425,354 shares of the company’s stock after buying an additional 38,924 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.16% of McCormick & Company, Incorporated worth $32,429,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Private Wealth Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after buying an additional 136 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of McCormick & Company, Incorporated by 2.8% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock valued at $382,000 after acquiring an additional 137 shares in the last quarter. Empower Advisory Group LLC lifted its stake in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after purchasing an additional 138 shares during the last quarter. Bessemer Group Inc. boosted its holdings in McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock worth $3,278,000 after purchasing an additional 139 shares during the period. Finally, Hunter Associates Investment Management LLC increased its stake in McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.2 %

Shares of MKC stock opened at $76.10 on Friday. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm has a market capitalization of $20.41 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The stock has a fifty day moving average of $78.03 and a two-hundred day moving average of $77.59. 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 (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.61 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.37%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of recent research reports. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report 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. Finally, Barclays dropped their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $83.14.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock valued at $6,478,332 over the last 90 days. 23.80% of the stock is currently owned by corporate insiders.

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.