BI Asset Management Fondsmaeglerselskab A S Purchases 2,295 Shares of McCormick & Company, Incorporated (NYSE:MKC)

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 20.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,641 shares of the company’s stock after purchasing an additional 2,295 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in McCormick & Company, Incorporated were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MKC. Vanguard Group Inc. increased its holdings 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 valued at $2,068,734,000 after buying an additional 105,272 shares during the period. Massachusetts Financial Services Co. MA increased its stake in McCormick & Company, Incorporated by 41.7% in the fourth 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 period. Norges Bank acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth about $160,999,000. Charles Schwab Investment Management Inc. lifted its stake in McCormick & Company, Incorporated by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,353,150 shares of the company’s stock worth $92,583,000 after purchasing an additional 35,305 shares during the period. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $92,340,000. 79.74% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the business’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 completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction 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 is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 80,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 directly owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,458 shares of company stock valued at $6,235,714. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $1.57 during mid-day trading on Wednesday, hitting $71.64. 348,842 shares of the company traded hands, compared to its average volume of 1,979,671. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.24 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 3.59 and a beta of 0.75. The business has a 50-day moving average of $71.41 and a 200 day moving average of $70.28. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a yield of 2.35%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Wall Street Analysts Forecast Growth

MKC has been the subject of several analyst reports. Stifel Nicolaus raised 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. TD Cowen reduced 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 note on Monday, June 24th. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Barclays boosted their price target 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. Finally, Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.25.

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.