McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Covea Finance

Covea Finance boosted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 339,510 shares of the company's stock after acquiring an additional 15,900 shares during the period. McCormick & Company, Incorporated accounts for about 1.3% of Covea Finance's holdings, making the stock its 24th biggest position. Covea Finance owned approximately 0.13% of McCormick & Company, Incorporated worth $27,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. increased its position in McCormick & Company, Incorporated by 2.8% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after acquiring an additional 137 shares during the period. Sage Capital Advisors llc increased its position in McCormick & Company, Incorporated by 2.8% in the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after acquiring an additional 137 shares during the period. Bessemer Group Inc. increased its position in McCormick & Company, Incorporated by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock valued at $3,278,000 after acquiring an additional 139 shares during the period. ST Germain D J Co. Inc. increased its position in McCormick & Company, Incorporated by 1.8% in the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock valued at $643,000 after acquiring an additional 140 shares during the period. Finally, Miracle Mile Advisors LLC increased its position in McCormick & Company, Incorporated by 1.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock valued at $912,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their position. 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 the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Insiders have sold a total of 60,392 shares of company stock worth $4,898,101 in the last quarter. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $72.98 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $74.34 and its two-hundred day moving average is $76.82. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 3.68 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The business's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Wall Street Analyst Weigh In

MKC has been the topic of several recent research reports. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Citigroup dropped their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, UBS Group began coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus price target of $84.13.

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.

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