UniSuper Management Pty Ltd grew its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 24.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,097 shares of the company's stock after acquiring an additional 5,883 shares during the quarter. UniSuper Management Pty Ltd's holdings in McCormick & Company, Incorporated were worth $2,295,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in McCormick & Company, Incorporated by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after purchasing an additional 303,973 shares during the period. State Street Corp increased its holdings in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock worth $482,823,000 after purchasing an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company's stock valued at $247,158,000 after purchasing an additional 177,567 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock worth $127,115,000 after purchasing an additional 568,276 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
MKC has been the topic of a number of research reports. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays reduced their target price 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. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. Finally, TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.14.
Check Out Our Latest Stock Report on McCormick & Company, Incorporated
Insider Activity
In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction that occurred on 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 owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction 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 $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 own 23.80% of the company's stock.
McCormick & Company, Incorporated Stock Up 1.2 %
MKC traded up $0.95 during trading on Thursday, reaching $82.24. 1,417,028 shares of the stock were exchanged, compared to its average volume of 2,200,919. The stock has a market cap of $22.05 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. 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 stock's 50 day moving average price is $79.76 and its two-hundred day moving average price is $78.81. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data 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 quarter in the prior year, the firm earned $0.63 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current 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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.19%. McCormick & Company, Incorporated's dividend payout ratio is 61.86%.
About McCormick & Company, Incorporated
(
Free Report)
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.
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