McCormick & Company, Incorporated $MKC Shares Purchased by Midwest Trust Co

Midwest Trust Co raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,278 shares of the company’s stock after purchasing an additional 19,334 shares during the period. Midwest Trust Co owned about 0.05% of McCormick & Company, Incorporated worth $9,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $2,854,000 after acquiring an additional 925 shares during the period. Empowered Funds LLC boosted its stake in McCormick & Company, Incorporated by 19.0% in 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 holdings in shares of 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 purchasing an additional 6,189 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $6,520,000. Finally, Daiwa Securities Group Inc. raised its position in shares of McCormick & Company, Incorporated by 6.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock worth $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.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $71.63, for a total transaction of $3,581,500.00. Following the transaction, the insider owned 296,992 shares of the company’s stock, valued at approximately $21,273,536.96. This trade represents a 14.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gavin Hattersley purchased 2,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were bought at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director directly owned 2,906 shares in the company, valued at $153,959.88. This represents a 220.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 10.60% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $48.29 on Monday. McCormick & Company, Incorporated has a 12-month low of $47.30 and a 12-month high of $78.16. The company has a market cap of $12.98 billion, a PE ratio of 7.92, a P/E/G ratio of 2.37 and a beta of 0.68. The stock has a 50 day simple moving average of $55.38 and a 200-day simple moving average of $62.60. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations 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 was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 31.48%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MKC shares. TD Cowen reduced their price objective on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft dropped their target price on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. BTIG Research began coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock. UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Finally, Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.27.

McCormick & Company, Incorporated 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.