Norinchukin Bank The Grows Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Norinchukin Bank The lifted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 98.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 353,882 shares of the company's stock after buying an additional 175,939 shares during the period. Norinchukin Bank The owned approximately 0.13% of McCormick & Company, Incorporated worth $26,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MKC. Norges Bank bought a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $223,202,000. Invesco Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 17.6% in the fourth quarter. Invesco Ltd. now owns 2,641,812 shares of the company's stock worth $201,412,000 after purchasing an additional 396,214 shares during the last quarter. Amundi increased its stake in shares of McCormick & Company, Incorporated by 37.5% in the fourth quarter. Amundi now owns 1,372,446 shares of the company's stock worth $102,275,000 after buying an additional 374,559 shares during the period. Teacher Retirement System of Texas raised its holdings in McCormick & Company, Incorporated by 9,283.1% during the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock valued at $27,999,000 after buying an additional 363,339 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in McCormick & Company, Incorporated by 321.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company's stock valued at $34,298,000 after buying an additional 343,070 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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 in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. 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 insiders.

Analyst Ratings Changes

MKC has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Barclays dropped their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus target price of $83.14.

McCormick & Company, Incorporated Stock Down 0.7 %

NYSE MKC traded down $0.54 during trading hours on Monday, reaching $74.78. 1,679,985 shares of the company's stock traded hands, compared to its average volume of 1,961,429. The firm has a market cap of $20.06 billion, a PE ratio of 25.52, a PEG ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The firm has a 50-day simple moving average of $79.29 and a 200 day simple moving average of $78.00.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company 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 business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 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.