T. Rowe Price Investment Management Inc. Has $245.11 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

T. Rowe Price Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,215,030 shares of the company's stock after acquiring an additional 190,856 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.20% of McCormick & Company, Incorporated worth $245,114,000 as of its most recent SEC filing.

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

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded down $0.45 during trading on Friday, reaching $74.56. The stock had a trading volume of 1,256,059 shares, compared to its average volume of 1,959,944. The stock has a market capitalization of $20.00 billion, a PE ratio of 25.45, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The business's 50-day moving average price is $79.18 and its 200 day moving average price is $77.90.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock worth $6,478,332 in the last quarter. Insiders own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MKC. JPMorgan Chase & Co. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Barclays dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $83.14.

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.