Board of the Pension Protection Fund Acquires New Shares in McCormick & Company, Incorporated (NYSE:MKC)

Board of the Pension Protection Fund acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,300 shares of the company's stock, valued at approximately $930,000. McCormick & Company, Incorporated accounts for about 1.1% of Board of the Pension Protection Fund's portfolio, making the stock its 25th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Curio Wealth LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $30,000. Salem Investment Counselors Inc. raised its stake in shares of McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 336 shares during the last quarter. Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Ameriflex Group Inc. purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $37,000. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded down $1.09 during trading hours on Friday, hitting $76.48. 3,714,997 shares of the company's stock traded hands, compared to its average volume of 2,064,253. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.70 and a beta of 0.68. McCormick & Company, Incorporated has a 12-month low of $69.00 and a 12-month high of $86.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25. The company has a fifty day simple moving average of $74.32 and a 200-day simple moving average of $76.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. This represents a 54.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,392 shares of company stock worth $4,898,101. Insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of analyst reports. UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target for the company. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Hold" and an average price target of $84.13.

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.