Mirae Asset Global Investments Co. Ltd. Acquires 8,766 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 29.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,647 shares of the company's stock after acquiring an additional 8,766 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in McCormick & Company, Incorporated were worth $2,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $28,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $40,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $38,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $49,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MKC shares. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price 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. Barclays decreased their target price on 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. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Up 0.9 %

Shares of NYSE:MKC traded up $0.70 during midday trading on Thursday, hitting $77.56. 1,301,349 shares of the stock were exchanged, compared to its average volume of 1,970,836. 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 52-week low of $64.43 and a 52-week high of $85.49. The business's fifty day simple moving average is $76.63 and its two-hundred day simple moving average is $78.39. The company has a market capitalization of $20.80 billion, a PE ratio of 26.47, a P/E/G ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 30th. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.32%. McCormick & Company, Incorporated's payout ratio is 61.43%.

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.