Forsta AP Fonden Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Forsta AP Fonden raised its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 61.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,700 shares of the company's stock after buying an additional 28,100 shares during the period. Forsta AP Fonden's holdings in McCormick & Company, Incorporated were worth $5,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Thrivent Financial for Lutherans boosted its holdings in McCormick & Company, Incorporated by 11.2% in the second quarter. Thrivent Financial for Lutherans now owns 13,353 shares of the company's stock valued at $947,000 after purchasing an additional 1,349 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of McCormick & Company, Incorporated by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 151,289 shares of the company's stock valued at $10,732,000 after buying an additional 3,135 shares during the period. EP Wealth Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 7.3% during the second quarter. EP Wealth Advisors LLC now owns 4,915 shares of the company's stock worth $349,000 after buying an additional 336 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth approximately $5,298,000. Finally, Czech National Bank raised its holdings in McCormick & Company, Incorporated by 7.0% in the third quarter. Czech National Bank now owns 51,338 shares of the company's stock valued at $4,225,000 after acquiring an additional 3,366 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.7 %

NYSE:MKC opened at $77.24 on Friday. The company has a market capitalization of $20.73 billion, a PE ratio of 26.36, a P/E/G ratio of 3.66 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $64.33 and a 52-week high of $85.49. The stock's 50 day moving average price is $76.73 and its 200 day moving average price is $78.16. 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 announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.43%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company's stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 15,000 shares of company stock worth $1,173,350. Company insiders own 22.90% of the company's stock.

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.

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