Elefante Mark B Has $2.35 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Key Points

• Elefante Mark B boosted its stake in McCormick & Company by 48.4%, acquiring an additional 9,290 shares, bringing its total to 28,485 shares, valued at approximately $2.34 million.
• Recent shareholder activity includes several institutional investors increasing their stakes, with 79.74% of McCormick's stock now owned by institutional investors.
• McCormick's latest earnings report showed an Earnings Per Share (EPS) of $0.69, exceeding analyst expectations, with a slight revenue increase of 1.0% year-over-year.

Elefante Mark B increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 48.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,485 shares of the company's stock after purchasing an additional 9,290 shares during the period. McCormick & Company, Incorporated makes up 1.9% of Elefante Mark B's holdings, making the stock its 27th largest position. Elefante Mark B's holdings in McCormick & Company, Incorporated were worth $2,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in McCormick & Company, Incorporated by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock worth $458,114,000 after purchasing an additional 137,679 shares during the period. Northern Trust Corp boosted its stake in shares of McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 10.2% during the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock worth $269,060,000 after buying an additional 326,041 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 worth $245,114,000 after buying an additional 190,856 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company's stock worth $232,264,000 after buying an additional 43,353 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock traded up $1.03 during trading hours on Monday, hitting $72.60. The company had a trading volume of 649,276 shares, compared to its average volume of 2,299,236. McCormick & Company, Incorporated has a one year low of $69.98 and a one year high of $86.24. The firm has a 50-day moving average of $73.37 and a 200 day moving average of $76.04. The firm has a market cap of $19.48 billion, a PE ratio of 25.22, a PEG ratio of 3.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the firm earned $0.69 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side 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. Stockholders of record on Monday, July 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.48%. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

A number of research firms have recently commented on MKC. Citigroup reduced their price objective on shares of 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 set a "neutral" rating and a $83.00 price objective for the company. Finally, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $84.13.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the 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. 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.