McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,523 shares of the company's stock after acquiring an additional 11,795 shares during the period. Wellington Management Group LLP owned about 0.06% of McCormick & Company, Incorporated worth $11,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. Norges Bank bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at $223,202,000. Select Equity Group L.P. acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $104,863,000. Balyasny Asset Management L.P. grew its position in shares of McCormick & Company, Incorporated by 47.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock valued at $216,771,000 after buying an additional 915,807 shares during the last quarter. Northern Trust Corp raised its stake in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after acquiring an additional 531,060 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in McCormick & Company, Incorporated by 88.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock worth $67,035,000 after acquiring an additional 412,074 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the business's 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. This trade represents a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, four 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, the company has a consensus rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded down $0.11 during trading hours on Wednesday, reaching $73.24. The stock had a trading volume of 1,152,814 shares, compared to its average volume of 2,045,310. The firm has a market capitalization of $19.64 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The firm has a 50-day simple moving average of $75.21 and a 200-day simple moving average of $77.12. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate 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 net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.46%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

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.