McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,903 shares of the company’s stock after acquiring an additional 25,278 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of McCormick & Company, Incorporated worth $25,423,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MKC. State Board of Administration of Florida Retirement System boosted its holdings in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after purchasing an additional 7,898 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $20,227,000. Cetera Investment Advisers increased its stake in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after acquiring an additional 31,306 shares during the last quarter. Sei Investments Co. raised its holdings in shares of McCormick & Company, Incorporated by 11.8% during the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after acquiring an additional 16,420 shares during the period. Finally, Boston Trust Walden Corp boosted its position in shares of McCormick & Company, Incorporated by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after acquiring an additional 6,588 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last 90 days. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.6 %

Shares of NYSE MKC opened at $76.59 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.55 billion, a PE ratio of 26.05, a PEG ratio of 3.54 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The stock has a fifty day simple moving average of $80.86 and a 200-day simple moving average of $76.23.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.19%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MKC. TD Cowen lifted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.57.

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.