Alerus Financial NA Invests $2.21 Million in McCormick & Company, Incorporated (NYSE:MKC)

Alerus Financial NA acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,985 shares of the company's stock, valued at approximately $2,210,000.

A number of other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC lifted its position in McCormick & Company, Incorporated by 90.5% during the third quarter. Larson Financial Group LLC now owns 2,879 shares of the company's stock worth $237,000 after buying an additional 1,368 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 20.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 33,120 shares of the company's stock valued at $2,726,000 after acquiring an additional 5,609 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of McCormick & Company, Incorporated by 3.0% in the third quarter. Bank of Montreal Can now owns 366,459 shares of the company's stock valued at $30,504,000 after purchasing an additional 10,559 shares during the period. D.A. Davidson & CO. increased its position in McCormick & Company, Incorporated by 3.7% during the third quarter. D.A. Davidson & CO. now owns 14,253 shares of the company's stock worth $1,173,000 after purchasing an additional 503 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in McCormick & Company, Incorporated during the third quarter worth about $84,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

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McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded down $0.29 during trading on Tuesday, reaching $82.02. The company had a trading volume of 551,304 shares, compared to its average volume of 1,894,136. The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The stock's fifty day moving average price is $79.43 and its 200 day moving average price is $78.80.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MKC has been the subject of several analyst reports. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays decreased 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 note on Monday, January 27th. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus target price of $83.75.

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.