Principal Financial Group Inc. Has $29.68 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Principal Financial Group Inc. lowered its position in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 27.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 307,254 shares of the company’s stock after selling 118,312 shares during the quarter. Principal Financial Group Inc.’s holdings in McCormick & Company, Incorporated were worth $29,684,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ceera Investments LLC increased its stake in shares of McCormick & Company, Incorporated by 30.5% in the fourth quarter. Ceera Investments LLC now owns 43,197 shares of the company’s stock valued at $4,173,000 after buying an additional 10,089 shares during the period. Northcape Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $236,000. Great Lakes Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 13.3% in the fourth quarter. Great Lakes Advisors LLC now owns 13,688 shares of the company’s stock valued at $1,322,000 after buying an additional 1,611 shares during the period. First Horizon Advisors Inc. increased its stake in shares of McCormick & Company, Incorporated by 7.9% in the fourth quarter. First Horizon Advisors Inc. now owns 2,034 shares of the company’s stock valued at $197,000 after buying an additional 149 shares during the period. Finally, L & S Advisors Inc acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $5,597,000. 74.86% of the stock is owned by institutional investors.

In other McCormick & Company, Incorporated news, CFO Michael R. Smith sold 19,986 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $104.04, for a total transaction of $2,079,343.44. Following the transaction, the chief financial officer now directly owns 93,025 shares in the company, valued at approximately $9,678,321. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated stock opened at $100.27 on Friday. The stock has a market capitalization of $26.88 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 5.07 and a beta of 0.45. McCormick & Company, Incorporated has a 52-week low of $77.85 and a 52-week high of $107.35. The stock’s 50 day moving average price is $99.50 and its two-hundred day moving average price is $94.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.32 and a current ratio of 0.73.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its quarterly earnings results on Tuesday, March 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.47 billion. McCormick & Company, Incorporated had a return on equity of 18.00% and a net margin of 11.77%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 25th. Shareholders of record on Monday, April 11th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, April 8th. McCormick & Company, Incorporated’s payout ratio is 53.43%.

A number of analysts have weighed in on the stock. StockNews.com assumed coverage on shares of McCormick & Company, Incorporated in a research report on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of McCormick & Company, Incorporated from $96.00 to $99.00 in a research report on Wednesday, March 30th. Credit Suisse Group downgraded shares of McCormick & Company, Incorporated from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a research report on Wednesday, January 19th. Finally, Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research report on Thursday, February 17th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus target price of $99.80.

About McCormick & Company, Incorporated (Get Rating)

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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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