New York Life Investment Management LLC Has $2.69 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

New York Life Investment Management LLC lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,362 shares of the company’s stock after acquiring an additional 306 shares during the quarter. New York Life Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MKC. Northern Trust Corp boosted its position in McCormick & Company, Incorporated by 2.8% during the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after acquiring an additional 93,034 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock valued at $168,045,000 after acquiring an additional 46,063 shares in the last quarter. Invesco Ltd. increased its position in McCormick & Company, Incorporated by 15.4% in the 3rd quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock valued at $138,313,000 after buying an additional 244,211 shares in the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $92,340,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of McCormick & Company, Incorporated by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock valued at $99,682,000 after buying an additional 19,962 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Price Performance

MKC opened at $75.45 on Monday. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.87 and a beta of 0.73. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $72.40 and a 200-day moving average price of $68.42. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the director now owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The disclosure for this sale can be found here. Insiders sold a total of 33,726 shares of company stock valued at $2,504,728 over the last 90 days. Insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MKC shares. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Barclays boosted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Citigroup boosted their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.