Sterling Capital Management LLC Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Sterling Capital Management LLC raised its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 55.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,931 shares of the company's stock after purchasing an additional 5,326 shares during the period. Sterling Capital Management LLC's holdings in McCormick & Company, Incorporated were worth $1,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Private Wealth Advisors LLC grew its stake in McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock worth $276,000 after buying an additional 136 shares during the period. Hazlett Burt & Watson Inc. grew its position in McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after acquiring an additional 137 shares in the last quarter. Empower Advisory Group LLC lifted its position in shares of McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after purchasing an additional 138 shares in the last quarter. Bessemer Group Inc. grew its holdings in McCormick & Company, Incorporated by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock valued at $3,278,000 after purchasing an additional 139 shares in the last quarter. Finally, Hunter Associates Investment Management LLC increased its position in shares of McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock worth $954,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKC. Barclays decreased their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average price target of $83.14.

Insider Activity 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 transaction of $2,163,926.76. Following the sale, the director now owns 6,177 shares of the company's stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gregory Repas sold 2,750 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock worth $6,478,332 over the last 90 days. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded up $1.75 during midday trading on Friday, reaching $75.29. The company's stock had a trading volume of 2,652,839 shares, compared to its average volume of 1,961,617. The business has a 50-day moving average price of $79.34 and a 200-day moving average price of $78.09. The stock has a market cap of $20.19 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

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.