Canada Post Corp Registered Pension Plan Buys Shares of 34,283 McCormick & Company, Incorporated (NYSE:MKC)

Canada Post Corp Registered Pension Plan bought a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,283 shares of the company's stock, valued at approximately $2,614,000.

Several other large investors also recently modified their holdings of MKC. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $223,202,000. Invesco Ltd. lifted its stake in McCormick & Company, Incorporated by 17.6% in the 4th quarter. Invesco Ltd. now owns 2,641,812 shares of the company's stock valued at $201,412,000 after acquiring an additional 396,214 shares in the last quarter. Amundi boosted its position in McCormick & Company, Incorporated by 37.5% during the 4th quarter. Amundi now owns 1,372,446 shares of the company's stock worth $102,275,000 after acquiring an additional 374,559 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of McCormick & Company, Incorporated by 9,283.1% during the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock worth $27,999,000 after acquiring an additional 363,339 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company's stock valued at $34,298,000 after purchasing an additional 343,070 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $1.75 during mid-day trading on Friday, reaching $75.29. 2,652,839 shares of the company were exchanged, compared to its average volume of 1,962,559. The stock has a market capitalization of $20.19 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company's 50-day simple moving average is $79.34 and its 200-day simple moving average is $78.04. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The stock was 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 of the company's stock, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock worth $6,478,332 in the last quarter. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of analyst reports. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. Barclays dropped 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. Finally, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.