Korea Investment CORP Boosts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Korea Investment CORP lifted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 120.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 265,677 shares of the company's stock after acquiring an additional 145,288 shares during the quarter. Korea Investment CORP owned 0.10% of McCormick & Company, Incorporated worth $20,255,000 at the end of the most recent reporting period.

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

Insider Transactions at McCormick & Company, Incorporated

In other news, 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 of the company's stock, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares in the company, valued at approximately $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. Corporate insiders own 23.80% of the company's stock.

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McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.61 during midday trading on Thursday, reaching $81.90. 1,361,631 shares of the company were exchanged, compared to its average volume of 1,889,722. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The stock has a fifty day simple moving average of $79.76 and a 200 day simple moving average of $78.81. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a market cap of $21.96 billion, a P/E ratio of 27.95, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its 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 firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm's revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. On average, research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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 paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MKC shares. 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. JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Barclays reduced 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 research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $83.14.

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.