McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,755 shares of the company’s stock after acquiring an additional 1,842 shares during the quarter. Daiwa Securities Group Inc.’s holdings in McCormick & Company, Incorporated were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 30,235,814 shares of the company’s stock valued at $2,068,734,000 after acquiring an additional 105,272 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of McCormick & Company, Incorporated by 41.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after acquiring an additional 1,577,636 shares during the last quarter. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $160,999,000. Charles Schwab Investment Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,353,150 shares of the company’s stock valued at $92,583,000 after acquiring an additional 35,305 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $92,340,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MKC. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, April 2nd. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Barclays upped 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 report on Thursday, March 28th. TD Cowen decreased their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.25.

Read Our Latest Stock Analysis on MKC

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the sale, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,695,277.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,458 shares of company stock worth $6,235,714. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.6 %

Shares of MKC traded up $0.42 during mid-day trading on Tuesday, hitting $69.86. 269,239 shares of the company’s stock were exchanged, compared to its average volume of 1,981,782. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 3.66 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $90.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The stock’s 50-day moving average is $71.53 and its 200-day moving average is $70.27.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last issued its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.40%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

About McCormick & Company, Incorporated

(Free Report)

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.

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

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