Deutsche Bank AG Purchases 208,144 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Deutsche Bank AG raised its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 21.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,194,217 shares of the company's stock after purchasing an additional 208,144 shares during the period. Deutsche Bank AG owned 0.45% of McCormick & Company, Incorporated worth $91,047,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MKC. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $30,000. Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Insiders Place Their Bets

In other news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction that occurred on 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 sale, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This trade represents a 81.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,484 shares of company stock worth $7,062,028 over the last ninety days. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Price Performance

MKC traded down $1.15 during trading on Wednesday, reaching $73.65. The stock had a trading volume of 2,895,874 shares, compared to its average volume of 1,988,713. The stock has a 50 day moving average of $77.76 and a two-hundred day moving average of $77.55. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $19.75 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.60 EPS 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.44%. McCormick & Company, Incorporated's payout ratio is presently 61.86%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MKC. Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Finally, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated 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.