T. Rowe Price Investment Management Inc. Has $413.47 Million Stake in McCormick & Company, Incorporated $MKC

T. Rowe Price Investment Management Inc. lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,070,612 shares of the company’s stock after purchasing an additional 12,165 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in McCormick & Company, Incorporated were worth $413,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MKC. Goldman Sachs Group Inc. raised its position in shares of McCormick & Company, Incorporated by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company’s stock valued at $113,047,000 after buying an additional 628,390 shares in the last quarter. PGGM Investments grew its position in McCormick & Company, Incorporated by 10.2% during the fourth quarter. PGGM Investments now owns 746,607 shares of the company’s stock worth $50,851,000 after buying an additional 69,034 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of McCormick & Company, Incorporated by 76.9% during the 3rd quarter. WINTON GROUP Ltd now owns 37,500 shares of the company’s stock worth $2,509,000 after purchasing an additional 16,300 shares in the last quarter. Vanguard Group Inc. grew its stake in McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company’s stock worth $2,225,828,000 after buying an additional 314,252 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $48,576,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gavin Hattersley bought 2,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the purchase, the director directly owned 2,906 shares of the company’s stock, 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 available at this link. 10.60% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $46.59 on Friday. The stock has a market capitalization of $12.52 billion, a PE ratio of 7.64, a PEG ratio of 2.30 and a beta of 0.65. The business’s 50 day simple moving average is $49.00 and its 200 day simple moving average is $58.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is 31.48%.

Analyst Ratings Changes

MKC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on 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. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Stifel Nicolaus dropped their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings lowered shares of McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Finally, UBS Group reduced their price objective on shares of McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $61.90.

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.