DnB Asset Management AS Has $4.35 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

DnB Asset Management AS raised its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,101 shares of the company's stock after acquiring an additional 5,270 shares during the quarter. DnB Asset Management AS's holdings in McCormick & Company, Incorporated were worth $4,353,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $30,000. Twin Tree Management LP bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $38,000. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were 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 owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded up $0.23 during mid-day trading on Thursday, reaching $81.52. The stock had a trading volume of 2,614,388 shares, compared to its average volume of 1,894,595. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The firm has a market cap of $21.86 billion, a PE ratio of 27.83, a P/E/G ratio of 3.76 and a beta of 0.71. The firm's 50 day simple moving average is $79.76 and its 200 day simple moving average is $78.81. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. McCormick & Company, Incorporated's payout ratio is presently 61.86%.

About McCormick & Company, Incorporated

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.