McCormick & Company, Incorporated (NYSE:MKC) Stake Lessened by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 21.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 913,500 shares of the company's stock after selling 246,400 shares during the period. Alecta Tjanstepension Omsesidigt owned approximately 0.34% of McCormick & Company, Incorporated worth $75,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Vanguard Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after buying an additional 303,973 shares during the last quarter. Geode Capital Management LLC grew its position in McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock worth $458,114,000 after buying an additional 137,679 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after purchasing an additional 531,060 shares during the last quarter. Voya Investment Management LLC lifted its stake in McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after buying an additional 326,041 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in McCormick & Company, Incorporated by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock valued at $245,114,000 after purchasing an additional 190,856 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Up 2.6%

Shares of NYSE:MKC traded up $1.83 on Tuesday, hitting $72.57. 2,017,049 shares of the company traded hands, compared to its average volume of 2,060,839. The company has a market cap of $19.48 billion, a PE ratio of 25.20, a PEG ratio of 3.40 and a beta of 0.68. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $73.69 and a 200-day simple moving average of $76.14. McCormick & Company, Incorporated has a 52 week low of $69.98 and a 52 week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.48%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on MKC. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Citigroup decreased their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target on the stock. Finally, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $84.13.

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.