Advanced Portfolio Management LLC Makes New $1.33 Million Investment in McCormick & Company, Incorporated (NYSE:MKC)

Advanced Portfolio Management LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,193 shares of the company's stock, valued at approximately $1,328,000. McCormick & Company, Incorporated accounts for approximately 1.6% of Advanced Portfolio Management LLC's investment portfolio, making the stock its 20th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $223,202,000. Northern Trust Corp raised its position in McCormick & Company, Incorporated by 16.8% in the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after purchasing an additional 531,060 shares during the period. Invesco Ltd. lifted its stake in McCormick & Company, Incorporated by 17.6% in the fourth quarter. Invesco Ltd. now owns 2,641,812 shares of the company's stock worth $201,412,000 after purchasing an additional 396,214 shares during the last quarter. Amundi boosted its stake in shares of McCormick & Company, Incorporated by 37.5% during the fourth quarter. Amundi now owns 1,372,446 shares of the company's stock valued at $102,275,000 after purchasing an additional 374,559 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in McCormick & Company, Incorporated by 9,283.1% in the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock valued at $27,999,000 after buying an additional 363,339 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 in the last 90 days. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $2.13 during trading on Thursday, hitting $77.09. The stock had a trading volume of 792,485 shares, compared to its average volume of 1,959,325. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The stock has a 50-day simple moving average of $78.32 and a two-hundred day simple moving average of $77.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Analyst Ratings Changes

Several brokerages have recently commented on MKC. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Finally, Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Company 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.