AMI Asset Management Corp Raises Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

AMI Asset Management Corp lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,549 shares of the company’s stock after purchasing an additional 27,424 shares during the quarter. AMI Asset Management Corp owned 0.15% of McCormick & Company, Incorporated worth $30,920,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The sale was disclosed in a legal filing 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 on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The disclosure for this sale can be found here. Insiders have sold a total of 84,458 shares of company stock valued at $6,235,714 over the last ninety days. Company insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MKC. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Barclays boosted their price objective on 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. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. Finally, TD Cowen lowered their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. One investment 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’s stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Trading Down 0.5 %

Shares of McCormick & Company, Incorporated stock traded down $0.37 during midday trading on Thursday, reaching $69.87. 1,059,623 shares of the company’s stock traded hands, compared to its average volume of 2,190,798. 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 company has a market cap of $18.75 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 3.63 and a beta of 0.75. The stock has a 50 day moving average of $71.88 and a 200-day moving average of $70.20. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue for the quarter 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. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

McCormick & Company, Incorporated 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.