Resona Asset Management Co. Ltd. Takes $7.42 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Resona Asset Management Co. Ltd. purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 96,963 shares of the company's stock, valued at approximately $7,418,000.

Other hedge funds have also recently bought and sold shares of the company. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $30,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth $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.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $0.30 during trading on Friday, reaching $75.84. 1,826,424 shares of the stock were exchanged, compared to its average volume of 1,949,085. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The stock has a 50-day moving average price of $79.53 and a 200-day moving average price of $78.29. 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 firm has a market cap of $20.34 billion, a PE ratio of 25.89, a PEG ratio of 3.76 and a beta of 0.75.

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 firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

Insiders Place Their Bets

In other news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock worth $6,478,332 in the last quarter. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays dropped their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $83.14.

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.