Zacks Investment Management Buys 46,560 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Zacks Investment Management increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1,703.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 49,294 shares of the company's stock after acquiring an additional 46,560 shares during the period. Zacks Investment Management's holdings in McCormick & Company, Incorporated were worth $3,758,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of McCormick & Company, Incorporated by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after purchasing an additional 303,973 shares during the period. Geode Capital Management LLC grew its stake in McCormick & Company, Incorporated by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after buying an additional 137,679 shares during the last quarter. Norges Bank bought a new position in McCormick & Company, Incorporated in the 4th quarter worth $223,202,000. Invesco Ltd. lifted its position in McCormick & Company, Incorporated by 17.6% during the 4th quarter. Invesco Ltd. now owns 2,641,812 shares of the company's stock worth $201,412,000 after acquiring an additional 396,214 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in McCormick & Company, Incorporated by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company's stock valued at $115,081,000 after acquiring an additional 46,411 shares during the period. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted 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. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Finally, Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One 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 a consensus rating of "Hold" and an average target price of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In other news, 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 sale, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 80,842 shares of company stock valued at $6,478,332. Corporate insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $75.29 on Friday. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The business has a fifty day simple moving average of $79.37 and a 200 day simple moving average of $78.15. 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 announced its quarterly earnings data 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). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS 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. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

McCormick & Company, Incorporated 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.

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