Forsta AP Fonden Has $8.51 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Forsta AP Fonden cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 22.8% during the fourth quarter, HoldingsChannel reports. The fund owned 124,900 shares of the company’s stock after selling 36,900 shares during the quarter. Forsta AP Fonden’s holdings in McCormick & Company, Incorporated were worth $8,507,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after buying an additional 925 shares during the last quarter. Empowered Funds LLC increased its position in McCormick & Company, Incorporated by 19.0% during the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock worth $486,000 after buying an additional 941 shares during the last quarter. Woodline Partners LP increased its position in McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock worth $1,756,000 after buying an additional 6,189 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in McCormick & Company, Incorporated during the second quarter worth $6,520,000. Finally, Daiwa Securities Group Inc. increased its position in McCormick & Company, Incorporated by 6.1% during the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock worth $2,873,000 after buying an additional 2,176 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 0.2%

NYSE MKC opened at $47.46 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The firm has a 50-day simple moving average of $50.12 and a 200 day simple moving average of $60.52. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $78.16. The stock has a market cap of $12.75 billion, a PE ratio of 7.78, a PEG ratio of 2.32 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. On average, research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 31.48%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley bought 2,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the purchase, the director owned 2,906 shares in the company, valued at approximately $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of several analyst reports. HSBC lowered their target price on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, TD Cowen lowered their target price on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.27.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.