McCormick & Company, Incorporated $MKC Shares Purchased by PGGM Investments

PGGM Investments boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 746,607 shares of the company’s stock after purchasing an additional 69,034 shares during the quarter. PGGM Investments’ holdings in McCormick & Company, Incorporated were worth $50,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock valued at $2,854,000 after acquiring an additional 925 shares during the period. Empowered Funds LLC grew its position in McCormick & Company, Incorporated by 19.0% during the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after acquiring an additional 941 shares during the period. Woodline Partners LP grew its position in McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after acquiring an additional 6,189 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at about $6,520,000. Finally, Daiwa Securities Group Inc. grew its position in McCormick & Company, Incorporated by 6.1% during the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after acquiring an additional 2,176 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MKC shares. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft lowered their price target on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, March 30th. BTIG Research started coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a “neutral” rating for the company. BNP Paribas Exane lowered their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Finally, HSBC lowered their price target on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $64.27.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley bought 2,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the transaction, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.60% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $47.82 on Tuesday. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16. The business has a 50-day moving average of $50.91 and a 200-day moving average of $61.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.34 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private?label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.