McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,812 shares of the company's stock after purchasing an additional 4,377 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in McCormick & Company, Incorporated were worth $9,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $30,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth about $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays cut 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 report 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average price target of $83.75.

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McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.16 on Friday, hitting $81.47. The company had a trading volume of 2,176,119 shares, 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 fifty day moving average price is $79.26 and its 200-day moving average price is $78.83. The company has a market capitalization of $21.85 billion, a PE ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released 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). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company earned $0.63 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company 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 $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 23.80% of the company's stock.

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.