McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by DnB Asset Management AS

DnB Asset Management AS raised its holdings in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 5.0% during the second quarter, HoldingsChannel.com reports. The firm owned 87,630 shares of the company’s stock after buying an additional 4,189 shares during the period. DnB Asset Management AS’s holdings in McCormick & Company, Incorporated were worth $7,295,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of McCormick & Company, Incorporated by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company’s stock valued at $2,889,787,000 after purchasing an additional 462,997 shares in the last quarter. BlackRock Inc. raised its position in shares of McCormick & Company, Incorporated by 0.3% in the 1st quarter. BlackRock Inc. now owns 20,435,276 shares of the company’s stock valued at $2,039,441,000 after purchasing an additional 65,272 shares in the last quarter. Fundsmith LLP raised its position in shares of McCormick & Company, Incorporated by 1.1% in the 4th quarter. Fundsmith LLP now owns 18,910,918 shares of the company’s stock valued at $1,826,984,000 after purchasing an additional 197,289 shares in the last quarter. State Street Corp raised its position in shares of McCormick & Company, Incorporated by 3.6% in the 4th quarter. State Street Corp now owns 13,765,605 shares of the company’s stock valued at $1,334,848,000 after purchasing an additional 481,027 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,728,544 shares of the company’s stock valued at $455,636,000 after purchasing an additional 113,236 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 10,580 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total transaction of $893,375.20. Following the completion of the transaction, the director now owns 12,660 shares of the company’s stock, valued at $1,069,010.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MKC. Barclays dropped their price target on McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. TheStreet lowered McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating on the stock in a research report on Thursday, September 8th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.25.

McCormick & Company, Incorporated Trading Up 0.8 %

NYSE:MKC opened at $79.14 on Monday. McCormick & Company, Incorporated has a 1 year low of $77.67 and a 1 year high of $107.35. The stock has a market cap of $21.23 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 5.60 and a beta of 0.51. The business has a fifty day moving average of $85.58 and a 200-day moving average of $91.49. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.17). McCormick & Company, Incorporated had a return on equity of 16.48% and a net margin of 10.78%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.69 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts predict that McCormick & Company, Incorporated will post 2.65 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Monday, July 11th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.48 annualized dividend and a yield of 1.87%. McCormick & Company, Incorporated’s dividend payout ratio is currently 58.50%.

McCormick & Company, Incorporated Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKCGet Rating).

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

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