Vestcor Inc Has $342,000 Position in McCormick & Company, Incorporated $MKC

Vestcor Inc cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 74.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,018 shares of the company’s stock after selling 14,300 shares during the quarter. Vestcor Inc’s holdings in McCormick & Company, Incorporated were worth $342,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, Director Gavin Hattersley acquired 2,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, April 10th. The stock was acquired at an average cost of $52.98 per share, with a total value of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

MKC has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. BNP Paribas Exane dropped their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Zacks Research raised McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.36.

McCormick & Company, Incorporated Stock Up 2.2%

MKC stock opened at $48.65 on Wednesday. The stock’s 50 day simple moving average is $49.31 and its 200 day simple moving average is $59.60. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The company has a market cap of $13.07 billion, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were issued 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 3.9%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.

About McCormick & Company, Incorporated

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.