Principal Financial Group Inc. Acquires 18,133 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Principal Financial Group Inc. boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 325,802 shares of the company's stock after buying an additional 18,133 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of McCormick & Company, Incorporated worth $26,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in McCormick & Company, Incorporated by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after purchasing an additional 303,973 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of McCormick & Company, Incorporated by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after buying an additional 137,679 shares in the last quarter. Northern Trust Corp increased its holdings in McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares during the last quarter. Voya Investment Management LLC raised its position in McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after acquiring an additional 326,041 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in McCormick & Company, Incorporated by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock valued at $245,114,000 after acquiring an additional 190,856 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded down $0.52 during mid-day trading on Friday, hitting $71.92. 1,857,648 shares of the company's stock traded hands, compared to its average volume of 2,070,461. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 3.46 and a beta of 0.68. The firm has a 50 day moving average of $74.10 and a two-hundred day moving average of $76.33. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 12 month low of $69.98 and a 12 month high of $86.24.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Insider Buying and Selling at McCormick & Company, Incorporated

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 transaction of $583,695.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

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

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.