Alerus Financial NA Buys Shares of 28,985 McCormick & Company, Incorporated (NYSE:MKC)

Alerus Financial NA purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, Holdings Channel reports. The firm purchased 28,985 shares of the company’s stock, valued at approximately $2,210,000.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares in the last quarter. DJE Kapital AG acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $4,228,000. SBI Securities Co. Ltd. bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $234,000. Asset Management One Co. Ltd. boosted its position in McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after buying an additional 19,491 shares during the period. Finally, DAVENPORT & Co LLC grew its holdings in McCormick & Company, Incorporated by 16.4% during the 4th quarter. DAVENPORT & Co LLC now owns 87,870 shares of the company’s stock worth $6,699,000 after acquiring an additional 12,356 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $81.64 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a fifty day moving average of $79.09 and a 200-day moving average of $78.88. The firm has a market capitalization of $21.89 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio is 61.86%.

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.