Kidder Stephen W Grows Stake in McCormick & Company, Incorporated (NYSE:MKC)

Kidder Stephen W increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,570 shares of the company's stock after purchasing an additional 7,885 shares during the quarter. McCormick & Company, Incorporated makes up approximately 1.4% of Kidder Stephen W's investment portfolio, making the stock its 27th biggest position. Kidder Stephen W's holdings in McCormick & Company, Incorporated were worth $4,492,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Wayfinding Financial LLC bought a new stake in McCormick & Company, Incorporated during the first quarter valued at about $30,000. Salem Investment Counselors Inc. raised its holdings in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the period. Ameriflex Group Inc. bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $33,000. Stonebridge Financial Group LLC raised its holdings in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after acquiring an additional 202 shares during the period. Finally, Parvin Asset Management LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $38,000. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MKC. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. UBS Group began coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. Finally, Citigroup decreased their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and an average target price of $84.13.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

MKC stock traded up $0.17 during trading on Friday, hitting $71.62. 1,974,295 shares of the company's stock traded hands, compared to its average volume of 2,201,190. McCormick & Company, Incorporated has a 52 week low of $69.98 and a 52 week high of $86.24. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.44 and a beta of 0.68. The business has a fifty day simple moving average of $73.37 and a 200 day simple moving average of $76.02. 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 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the company posted $0.69 EPS. The business's revenue was up 1.0% on a year-over-year basis. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.51%. McCormick & Company, Incorporated's dividend payout ratio is currently 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.