KLP Kapitalforvaltning AS Invests $6.78 Million in McCormick & Company, Incorporated (NYSE:MKC)

KLP Kapitalforvaltning AS acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 88,456 shares of the company's stock, valued at approximately $6,778,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC grew its position in shares of McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock valued at $482,823,000 after buying an additional 54,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company's stock worth $247,158,000 after acquiring an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. lifted its position in McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after acquiring an additional 568,276 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in McCormick & Company, Incorporated by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company's stock valued at $115,081,000 after acquiring an additional 46,411 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

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Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business's 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 sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded down $0.16 during trading hours on Friday, reaching $81.47. 2,176,119 shares of the company's stock were exchanged, compared to its average volume of 1,899,000. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company's 50 day moving average is $79.26 and its two-hundred day moving average is $78.87. The company has a market cap of $21.85 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. 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 released 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 analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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 2.21%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Analyst Ratings Changes

MKC has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $91.00 in a research report 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 stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Finally, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday. 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 company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.