Canada Pension Plan Investment Board Has $42.82 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Canada Pension Plan Investment Board boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 561,637 shares of the company’s stock after purchasing an additional 9,028 shares during the quarter. Canada Pension Plan Investment Board owned about 0.21% of McCormick & Company, Incorporated worth $42,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. International Private Wealth Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after buying an additional 136 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock valued at $382,000 after buying an additional 137 shares during the period. Empower Advisory Group LLC lifted its stake in shares of McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares during the period. Bessemer Group Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock worth $3,278,000 after buying an additional 139 shares in the last quarter. Finally, Hunter Associates Investment Management LLC boosted its position in shares of McCormick & Company, Incorporated by 1.2% during the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after purchasing an additional 153 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MKC. JPMorgan Chase & Co. raised their price target on shares of 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 upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $83.14.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’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 sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $75.29 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a market capitalization of $20.19 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a 50-day simple moving average of $79.34 and a two-hundred day simple moving average of $78.09. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results 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). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.39%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

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.