Vanguard Group Inc. Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Vanguard Group Inc. raised its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,737,310 shares of the company's stock after acquiring an additional 303,973 shares during the quarter. Vanguard Group Inc. owned approximately 11.84% of McCormick & Company, Incorporated worth $2,419,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MKC. State Street Corp lifted its stake in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of 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 acquiring an additional 568,276 shares during the period. Benjamin Edwards Inc. increased its holdings in McCormick & Company, Incorporated by 2,778.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock worth $37,606,000 after acquiring an additional 441,048 shares during the last quarter. Amundi raised its stake in McCormick & Company, Incorporated by 37.5% in the 4th quarter. Amundi now owns 1,372,446 shares of the company's stock valued at $102,275,000 after acquiring an additional 374,559 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in McCormick & Company, Incorporated by 9,283.1% during the fourth quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock valued at $27,999,000 after purchasing an additional 363,339 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MKC. Barclays dropped their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price target on 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 raised shares of 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 report on Wednesday, January 8th. Finally, Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus target price of $83.75.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.16 on Friday, reaching $81.47. 2,176,119 shares of the company's stock traded hands, compared to its average volume of 1,899,000. The stock has a market cap of $21.85 billion, a PE ratio of 27.80, a P/E/G ratio of 3.76 and a beta of 0.71. 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 simple moving average of $79.26 and a 200 day simple moving average of $78.81. 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 (NYSE:MKC - Get Free Report) last posted 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 business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given 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 2.21%. McCormick & Company, Incorporated's payout ratio is currently 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.