McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its holdings in McCormick & Company by 2,138.1%, owning approximately 363,892 shares valued at $29.95 million as of its latest SEC filing.
• Insider Katherine Jenkins sold 7,642 shares of McCormick stock, bringing corporate insider ownership to 23.80%.
• Analysts have varied ratings for McCormick with a general consensus of "Hold" and an average target price of $83.00.

Jupiter Asset Management Ltd. lifted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2,138.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,892 shares of the company's stock after acquiring an additional 347,633 shares during the period. Jupiter Asset Management Ltd. owned 0.14% of McCormick & Company, Incorporated worth $29,952,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $30,000. Salem Investment Counselors Inc. increased its holdings in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after buying an additional 336 shares in the last quarter. Stonebridge Financial Group LLC boosted its position in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Ameriflex Group Inc. purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Finally, Parvin Asset Management LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded down $0.05 on Thursday, reaching $69.38. The stock had a trading volume of 193,877 shares, compared to its average volume of 2,287,500. The firm has a 50-day moving average of $73.14 and a 200 day moving average of $75.91. The firm has a market capitalization of $18.62 billion, a PE ratio of 24.06, a PEG ratio of 3.35 and a beta of 0.66. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a twelve month low of $69.13 and a twelve month high of $86.24.

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, beating analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. McCormick & Company, Incorporated's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MKC shares. Citigroup cut their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. UBS Group started coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 target price for the company. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. Finally, Wall Street Zen raised 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 issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus price target of $83.00.

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.