Hemenway Trust Co LLC boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,088 shares of the company's stock after purchasing an additional 29,197 shares during the quarter. McCormick & Company, Incorporated makes up approximately 1.6% of Hemenway Trust Co LLC's holdings, making the stock its 27th biggest position. Hemenway Trust Co LLC owned 0.09% of McCormick & Company, Incorporated worth $20,091,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of McCormick & Company, Incorporated by 7.4% in the 4th quarter. Empowered Funds LLC now owns 4,962 shares of the company's stock valued at $378,000 after acquiring an additional 341 shares during the last quarter. Principal Securities Inc. grew its position in shares of McCormick & Company, Incorporated by 4.1% during the 4th quarter. Principal Securities Inc. now owns 5,322 shares of the company's stock worth $406,000 after buying an additional 208 shares in the last quarter. CIBC Asset Management Inc increased its position in McCormick & Company, Incorporated by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 38,436 shares of the company's stock valued at $2,930,000 after purchasing an additional 1,698 shares during the period. Empower Advisory Group LLC increased its holdings in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after buying an additional 138 shares during the period. Finally, D.A. Davidson & CO. raised its stake in McCormick & Company, Incorporated by 54.2% in the fourth quarter. D.A. Davidson & CO. now owns 21,973 shares of the company's stock worth $1,675,000 after buying an additional 7,720 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. UBS Group began coverage on McCormick & Company, Incorporated in a research report on Monday. They set a "neutral" rating and a $83.00 price objective on the stock. Finally, Citigroup reduced their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $84.13.
Read Our Latest Analysis on McCormick & Company, Incorporated
Insiders Place Their Bets
In related news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by insiders.
McCormick & Company, Incorporated Stock Performance
NYSE:MKC traded up $0.19 during trading hours on Wednesday, hitting $73.15. 1,881,643 shares of the company were exchanged, compared to its average volume of 2,042,999. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.72 and a beta of 0.68. The company's 50 day moving average price is $74.50 and its 200-day moving average price is $76.92.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. McCormick & Company, Incorporated's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. As a group, research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.46%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.
McCormick & Company, Incorporated Profile
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Free Report)
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.
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