McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 470,446 shares of the company's stock after acquiring an additional 15,179 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of McCormick & Company, Incorporated worth $35,683,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This represents a 16.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of the firm'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 transaction of $2,163,926.76. Following the sale, the director now owns 6,177 shares of the company's stock, valued at $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. 23.80% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

Several brokerages have weighed in on MKC. Barclays lowered their target price on shares of 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their price objective 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. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded up $0.95 during mid-day trading on Thursday, reaching $82.24. The company's stock had a trading volume of 1,417,028 shares, compared to its average volume of 2,200,919. The stock has a 50-day moving average of $79.76 and a two-hundred day moving average of $78.81. The stock has a market capitalization of $22.05 billion, a P/E ratio of 28.07, a P/E/G 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. 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 announced 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). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the company posted $0.63 EPS. The firm's revenue was up .2% on a year-over-year basis. On average, 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 given a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. McCormick & Company, Incorporated's payout ratio is 61.86%.

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.