DnB Asset Management AS Buys 5,270 Shares of McCormick & Company, Incorporated (NYSE:MKC)

DnB Asset Management AS lifted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,101 shares of the company's stock after purchasing an additional 5,270 shares during the period. DnB Asset Management AS's holdings in McCormick & Company, Incorporated were worth $4,353,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. raised its position in shares of 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 acquiring an additional 503 shares during the last quarter. Bridgewater Associates LP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $348,000. Public Sector Pension Investment Board lifted its position in McCormick & Company, Incorporated by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company's stock valued at $907,000 after purchasing an additional 1,300 shares during the period. Alethea Capital Management LLC bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $347,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $13,994,000. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Down 5.5 %

NYSE:MKC traded down $4.48 on Friday, reaching $76.36. The company's stock had a trading volume of 3,894,635 shares, compared to its average volume of 1,910,539. The firm has a market cap of $20.48 billion, a PE ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The business's 50-day moving average price is $79.91 and its two-hundred day moving average price is $78.76. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year 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 the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.36%. McCormick & Company, Incorporated's payout ratio is 61.86%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 sale, the director now owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Barclays decreased their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Company 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.