Swiss National Bank Sells 21,900 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Swiss National Bank decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 785,800 shares of the company’s stock after selling 21,900 shares during the period. Swiss National Bank owned about 0.29% of McCormick & Company, Incorporated worth $53,764,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp grew its stake in McCormick & Company, Incorporated by 2.8% in the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock worth $260,108,000 after purchasing an additional 93,034 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock worth $168,045,000 after acquiring an additional 46,063 shares in the last quarter. Invesco Ltd. lifted its position in McCormick & Company, Incorporated by 15.4% during the 3rd quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock valued at $138,313,000 after acquiring an additional 244,211 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $92,340,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in McCormick & Company, Incorporated by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock worth $99,682,000 after acquiring an additional 19,962 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at $430,738. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,726 shares of company stock worth $2,504,728. 22.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MKC has been the subject of a number of analyst reports. Barclays raised their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $75.76 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The firm has a market cap of $20.33 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.87 and a beta of 0.73. The business has a 50-day simple moving average of $72.56 and a two-hundred day simple moving average of $68.53. 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:MKC) 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 during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

McCormick & Company, Incorporated Company Profile

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.