Eurizon Capital SGR S.p.A. Invests $4.88 Million in McCormick & Company, Incorporated $MKC

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in McCormick & Company during the fourth quarter, buying 71,674 shares worth about $4.88 million.
• Institutional ownership remains heavy, with several funds recently adding to MKC and about 79.74% of the stock now held by institutional investors.
• McCormick reported better-than-expected earnings and revenue for the latest quarter, while analysts currently rate the stock Hold on average with a consensus price target of $64.27.

Eurizon Capital SGR S.p.A. purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,674 shares of the company's stock, valued at approximately $4,883,000.

A number of other hedge funds have also recently made changes to their positions in MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 acquiring an additional 925 shares in the last quarter. Empowered Funds LLC grew its holdings in 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 acquiring an additional 941 shares in the last quarter. Woodline Partners LP grew its holdings in 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 acquiring an additional 6,189 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in McCormick & Company, Incorporated during the 2nd quarter worth about $6,520,000. Finally, Daiwa Securities Group Inc. grew its holdings in 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 acquiring an additional 2,176 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MKC. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. BTIG Research began coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, April 14th. They set a "neutral" rating on the stock. HSBC dropped their target price on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, March 30th. Finally, BNP Paribas Exane dropped their target price on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $64.27.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the business's stock in a transaction dated Friday, April 10th. The shares were purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the purchase, the director directly owned 2,906 shares of the company's stock, valued at $153,959.88. The trade was a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.60% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Down 1.8%

MKC stock opened at $46.54 on Tuesday. The firm has a 50 day moving average of $49.97 and a 200 day moving average of $60.38. The stock has a market capitalization of $12.51 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. McCormick & Company, Incorporated's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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

About McCormick & Company, Incorporated

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.

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.