McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 175.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,600 shares of the company’s stock after buying an additional 9,300 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in McCormick & Company, Incorporated were worth $998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $36,000. VisionPoint Advisory Group LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $44,000. Milestone Investment Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the third quarter valued at approximately $47,000. Valley National Advisers Inc. lifted its stake in McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after purchasing an additional 582 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in shares of McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after acquiring an additional 290 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 0.9 %

McCormick & Company, Incorporated stock traded down $0.64 during trading hours on Tuesday, hitting $71.57. The company had a trading volume of 367,375 shares, compared to its average volume of 1,918,803. The firm has a market capitalization of $19.21 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 3.70 and a beta of 0.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The firm’s fifty day moving average is $74.33 and its 200-day moving average is $69.65. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.35%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MKC shares. Citigroup upped their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Barclays upped their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Finally, Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $77.88.

Get Our Latest Analysis on McCormick & Company, Incorporated

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold a total of 111,458 shares of company stock worth $8,286,114 in the last 90 days. 22.90% of the stock is owned by insiders.

About McCormick & Company, Incorporated

(Free Report)

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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