2,927,628 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Norges Bank

Norges Bank acquired a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,927,628 shares of the company's stock, valued at approximately $223,202,000. Norges Bank owned 1.09% of McCormick & Company, Incorporated as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Curio Wealth LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $30,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $33,000. Twin Tree Management LP bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Lee Danner & Bass Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.1 %

McCormick & Company, Incorporated stock traded up $0.07 during trading hours on Thursday, reaching $81.36. 2,515,553 shares of the company's stock traded hands, compared to its average volume of 2,218,906. 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 firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 3.76 and a beta of 0.71. The firm's 50 day moving average is $79.76 and its 200-day moving average is $78.81. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24.

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McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates 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 posted $0.63 earnings per share. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of the 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 completion of the sale, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MKC shares. Barclays decreased their price target on shares of 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. JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Company 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.