BNP Paribas Financial Markets Has $32.15 Million Stock Position in McCormick & Company, Incorporated $MKC

Key Points

• BNP Paribas Financial Markets increased its McCormick stake by 12.8% in the fourth quarter, ending with 472,081 shares worth about $32.15 million.
• McCormick reported better-than-expected quarterly results, with EPS of $0.66 versus $0.61 expected and revenue of $1.87 billion, up 16.7% from a year earlier.
• The company continues to offer income appeal, paying a quarterly dividend of $0.48 for an annualized yield of about 4.1%, while analysts currently have a consensus rating of Hold.

BNP Paribas Financial Markets increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 472,081 shares of the company's stock after buying an additional 53,688 shares during the period. BNP Paribas Financial Markets owned 0.18% of McCormick & Company, Incorporated worth $32,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in McCormick & Company, Incorporated by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company's stock worth $2,854,000 after purchasing an additional 925 shares during the last quarter. Empowered Funds LLC grew its position in shares of McCormick & Company, Incorporated by 19.0% during the 1st quarter. Empowered Funds LLC now owns 5,903 shares of the company's stock worth $486,000 after buying an additional 941 shares during the period. Woodline Partners LP grew its position in shares of McCormick & Company, Incorporated by 40.9% during the 1st quarter. Woodline Partners LP now owns 21,334 shares of the company's stock worth $1,756,000 after buying an additional 6,189 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $6,520,000. Finally, Daiwa Securities Group Inc. grew its position in shares of McCormick & Company, Incorporated by 6.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company's stock worth $2,873,000 after buying an additional 2,176 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $46.64 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.16. The stock has a 50 day moving average of $49.58 and a 200-day moving average of $59.97. The company has a market capitalization of $12.53 billion, a P/E ratio of 7.65, a P/E/G ratio of 2.27 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the company posted $0.60 EPS. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated's dividend payout ratio is presently 31.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus cut their price objective on McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating on the stock in a report on Wednesday, April 1st. BNP Paribas Exane cut their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. BTIG Research assumed coverage on McCormick & Company, Incorporated in a report on Tuesday, April 14th. They set a "neutral" rating on the stock. Jefferies Financial Group cut their price objective on McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday. Finally, HSBC cut their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $63.36.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley bought 2,000 shares of the firm's stock in a transaction dated Friday, April 10th. The shares were bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares of the company's stock, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated NYSE: MKC is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick's product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.

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