Mirae Asset Global Investments Co. Ltd. Increases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,647 shares of the company’s stock after acquiring an additional 8,766 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $2,969,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $28,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $33,000. Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $38,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $40,000. Finally, Friedenthal Financial purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on MKC shares. Barclays decreased their price target 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. JPMorgan Chase & Co. increased their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Trading Up 1.4 %

Shares of MKC stock opened at $78.43 on Monday. The company has a market cap of $21.03 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year high of $85.49. The stock’s 50 day simple moving average is $76.70 and its two-hundred day simple moving average is $78.35. 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) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.43%.

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.