IFM Investors Pty Ltd Grows Holdings in McCormick & Company, Incorporated (NYSE:MKC)

IFM Investors Pty Ltd boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,712 shares of the company's stock after buying an additional 5,829 shares during the quarter. IFM Investors Pty Ltd's holdings in McCormick & Company, Incorporated were worth $4,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $223,202,000. Select Equity Group L.P. purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $104,863,000. Balyasny Asset Management L.P. raised its stake in McCormick & Company, Incorporated by 47.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after purchasing an additional 915,807 shares during the period. Northern Trust Corp raised its stake in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after purchasing an additional 531,060 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in McCormick & Company, Incorporated by 88.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock worth $67,035,000 after purchasing an additional 412,074 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity

In related news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of research analyst reports. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday. Citigroup reduced their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $84.13.

McCormick & Company, Incorporated Stock Down 2.4%

NYSE MKC traded down $1.78 on Monday, hitting $73.37. 3,419,925 shares of the stock were exchanged, compared to its average volume of 2,062,115. The company has a 50-day moving average price of $74.41 and a 200-day moving average price of $76.51. McCormick & Company, Incorporated has a fifty-two week low of $69.00 and a fifty-two week high of $86.24. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The company has a market cap of $19.69 billion, a PE ratio of 25.48, a PEG ratio of 3.61 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated's payout ratio is 62.50%.

McCormick & Company, Incorporated 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.