McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,173 shares of the company's stock after buying an additional 4,282 shares during the period. Asset Management One Co. Ltd. owned 0.05% of McCormick & Company, Incorporated worth $11,620,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MKC. Sigma Planning Corp increased its stake in McCormick & Company, Incorporated by 22.2% in the 4th quarter. Sigma Planning Corp now owns 5,562 shares of the company's stock worth $424,000 after buying an additional 1,009 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $374,000. Bryn Mawr Capital Management LLC increased its position in McCormick & Company, Incorporated by 35.1% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 9,837 shares of the company's stock valued at $750,000 after purchasing an additional 2,554 shares during the period. NewEdge Wealth LLC increased its position in McCormick & Company, Incorporated by 13.5% during the 4th quarter. NewEdge Wealth LLC now owns 16,263 shares of the company's stock valued at $1,240,000 after purchasing an additional 1,935 shares during the period. Finally, New York Life Investment Management LLC increased its position in McCormick & Company, Incorporated by 0.5% during the 4th quarter. New York Life Investment Management LLC now owns 37,511 shares of the company's stock valued at $2,860,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 target price on the stock. Citigroup cut their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Finally, Argus downgraded shares of 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, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $84.13.

McCormick & Company, Incorporated Stock Down 1.4%

Shares of NYSE:MKC traded down $1.09 during trading on Friday, reaching $76.48. The stock had a trading volume of 3,714,997 shares, compared to its average volume of 2,064,253. McCormick & Company, Incorporated has a one year low of $69.00 and a one year high of $86.24. The company has a market capitalization of $20.51 billion, a P/E ratio of 26.28, a PEG ratio of 3.70 and a beta of 0.68. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57. The firm's 50-day simple moving average is $74.32 and its 200 day simple moving average is $76.74.

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

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity

In related news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 completion of the sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,392 shares of company stock worth $4,898,101. Corporate insiders own 23.80% of the company's stock.

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.