Sumitomo Mitsui Trust Group Inc. Has $47.56 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 623,774 shares of the company's stock after acquiring an additional 11,417 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of McCormick & Company, Incorporated worth $47,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $28,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated during the 3rd quarter worth $40,000. Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $38,000. Finally, Friedenthal Financial bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth $49,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at approximately $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 hyperlink. 22.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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 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 note on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their price target 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.75.

McCormick & Company, Incorporated Price Performance

MKC stock traded down $0.44 during trading hours on Friday, hitting $77.07. 1,334,099 shares of the stock traded hands, compared to its average volume of 1,949,610. McCormick & Company, Incorporated has a one year low of $64.86 and a one year high of $85.49. The company has a market cap of $20.67 billion, a P/E ratio of 26.30, a P/E/G ratio of 3.67 and a beta of 0.75. 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 stock has a 50-day simple moving average of $76.62 and a 200 day simple moving average of $78.39.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.45 dividend. This is a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.43%.

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.