Korea Investment CORP Raises Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Korea Investment CORP lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 120.7% during the fourth quarter, Holdings Channel reports. The firm owned 265,677 shares of the company’s stock after acquiring an additional 145,288 shares during the quarter. Korea Investment CORP’s holdings in McCormick & Company, Incorporated were worth $20,255,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in McCormick & Company, Incorporated by 3.7% in the third quarter. D.A. Davidson & CO. now owns 14,253 shares of the company’s stock valued at $1,173,000 after buying an additional 503 shares during the last quarter. Bridgewater Associates LP purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $348,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in McCormick & Company, Incorporated by 187.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 296,419 shares of the company’s stock worth $24,395,000 after purchasing an additional 193,453 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after purchasing an additional 177,567 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in McCormick & Company, Incorporated by 13.4% in the third quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company’s stock valued at $907,000 after purchasing an additional 1,300 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $81.47 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The firm has a market capitalization of $21.85 billion, a P/E ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71. The company’s fifty day moving average is $79.26 and its two-hundred day moving average is $78.83.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MKC shares. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.75.

McCormick & Company, Incorporated 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.