BLI Banque de Luxembourg Investments Acquires Shares of 43,000 McCormick & Company, Incorporated (NYSE:MKC)

BLI Banque de Luxembourg Investments bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 43,000 shares of the company's stock, valued at approximately $3,246,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Principal Financial Group Inc. grew its holdings in McCormick & Company, Incorporated by 8.9% during the third quarter. Principal Financial Group Inc. now owns 308,903 shares of the company's stock worth $25,423,000 after acquiring an additional 25,278 shares during the period. Everence Capital Management Inc. grew its stake in shares of McCormick & Company, Incorporated by 73.9% during the 4th quarter. Everence Capital Management Inc. now owns 10,590 shares of the company's stock worth $807,000 after purchasing an additional 4,500 shares during the period. Nordea Investment Management AB grew its stake in shares of McCormick & Company, Incorporated by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 21,507 shares of the company's stock worth $1,641,000 after purchasing an additional 1,955 shares during the period. ST Germain D J Co. Inc. increased its holdings in shares of McCormick & Company, Incorporated by 24.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 7,670 shares of the company's stock valued at $585,000 after purchasing an additional 1,530 shares in the last quarter. Finally, Jacobs & Co. CA lifted its stake in shares of McCormick & Company, Incorporated by 2.1% in the fourth quarter. Jacobs & Co. CA now owns 149,685 shares of the company's stock valued at $11,411,000 after purchasing an additional 3,020 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $76.02 on Monday. 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 fifty-two week low of $66.88 and a fifty-two week high of $86.24. The business has a fifty day moving average of $78.71 and a 200-day moving average of $77.71. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.37%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus price target of $83.14.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company'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 owns 6,177 shares of the company's stock, valued at $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 80,842 shares of company stock worth $6,478,332. Insiders own 23.80% of the company's stock.

About McCormick & Company, Incorporated

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.

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