Mitsubishi UFJ Asset Management Co. Ltd. Has $42.18 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in McCormick & Company (NYSE:MKC) by 8.9%, owning approximately 0.19% of the company worth $42.18 million at the end of the first quarter.
• McCormick & Company is currently rated as a "Hold" by various analysts, with a consensus target price of $83.00, indicating expectations for moderate growth.
• The company declared a quarterly dividend of $0.45 per share, translating to an annual yield of 2.6%, and reported a slight year-on-year revenue increase of 1% in its latest earnings results.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 512,473 shares of the company's stock after acquiring an additional 42,027 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of McCormick & Company, Incorporated worth $42,182,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MKC. EagleClaw Capital Managment LLC increased its holdings in shares of McCormick & Company, Incorporated by 0.4% in the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock valued at $3,018,000 after purchasing an additional 135 shares during the last quarter. Sage Capital Advisors llc grew its stake 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 buying an additional 137 shares during the last quarter. Bessemer Group Inc. grew its stake 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 buying an additional 139 shares during the last quarter. ST Germain D J Co. Inc. grew its stake 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 buying an additional 140 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 1.3% in the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock valued at $912,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on MKC shares. UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective on the stock. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Citigroup decreased their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. Finally, Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. One analyst has rated the stock with a sell rating, six have assigned 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.com, the stock has an average rating of "Hold" and a consensus price target of $83.00.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded down $0.35 during trading hours on Thursday, reaching $70.27. 1,958,964 shares of the stock were exchanged, compared to its average volume of 2,032,053. The company has a market cap of $18.86 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 3.40 and a beta of 0.66. 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 twelve month low of $68.42 and a twelve month high of $86.24. The stock has a 50 day moving average of $72.79 and a two-hundred day moving average of $75.72.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid 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 2.6%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

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.