Kidder Stephen W Has $3.56 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Kidder Stephen W increased its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 40.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,685 shares of the company's stock after buying an additional 13,470 shares during the period. McCormick & Company, Incorporated accounts for 1.1% of Kidder Stephen W's portfolio, making the stock its 28th largest holding. Kidder Stephen W's holdings in McCormick & Company, Incorporated were worth $3,559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. Vanguard Group Inc. lifted its position in shares of McCormick & Company, Incorporated by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after buying an additional 303,973 shares during the last quarter. State Street Corp raised its stake in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of McCormick & Company, Incorporated by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after acquiring an additional 137,679 shares in the last quarter. Norges Bank acquired a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $223,202,000. Finally, Charles Schwab Investment Management Inc. boosted its position in McCormick & Company, Incorporated by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company's stock worth $115,081,000 after purchasing an additional 46,411 shares during the period. Institutional investors own 79.74% of the company's stock.

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Insider Activity

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was 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 directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,842 shares of company stock worth $6,478,332. Company insiders own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Finally, TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $86.00 to $90.00 in a research 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded down $1.88 during trading hours on Tuesday, reaching $72.05. 2,651,936 shares of the company traded hands, compared to its average volume of 1,927,395. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock's fifty day moving average is $79.84 and its 200 day moving average is $78.62. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The stock has a market cap of $19.32 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company earned $0.63 EPS. The company's revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders 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 annualized dividend and a dividend yield of 2.50%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 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.