McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,712 shares of the company's stock after purchasing an additional 5,829 shares during the period. IFM Investors Pty Ltd's holdings in McCormick & Company, Incorporated were worth $4,091,000 as of its most recent SEC filing.

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

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded up $0.28 during mid-day trading on Thursday, hitting $72.49. 1,845,809 shares of the stock were exchanged, compared to its average volume of 2,070,851. The stock's fifty day simple moving average is $74.23 and its two-hundred day simple moving average is $76.41. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 3.51 and a beta of 0.68. McCormick & Company, Incorporated has a 12-month low of $69.98 and a 12-month high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. On average, analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.48%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MKC shares. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Citigroup dropped their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Finally, Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of "Hold" and an average target price of $84.13.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.80% of the company's stock.

About McCormick & Company, Incorporated

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.