Notis McConarty Edward Raises Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Notis McConarty Edward increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 26.5% in the fourth quarter, Holdings Channel reports. The firm owned 31,102 shares of the company’s stock after buying an additional 6,514 shares during the period. Notis McConarty Edward’s holdings in McCormick & Company, Incorporated were worth $2,371,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $223,202,000. State Street Corp increased its stake in McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares during the period. Amundi lifted its holdings in McCormick & Company, Incorporated by 37.5% during the 4th quarter. Amundi now owns 1,372,446 shares of the company’s stock worth $102,275,000 after buying an additional 374,559 shares in the last quarter. Teacher Retirement System of Texas boosted its position in McCormick & Company, Incorporated by 9,283.1% in the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company’s stock valued at $27,999,000 after buying an additional 363,339 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after purchasing an additional 343,070 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares of the company’s stock, valued at $184,497.72. This represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is owned by insiders.

Analysts Set New Price Targets

MKC has been the topic of a number of analyst reports. 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 research note on Monday, December 9th. Barclays cut 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. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $83.14.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $76.36 on Friday. The firm has a market cap of $20.48 billion, a P/E ratio of 26.06, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The business’s 50-day moving average price is $79.91 and its 200 day moving average price is $78.76. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors 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 dividend on an annualized basis and a yield of 2.36%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 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.