Zurcher Kantonalbank Zurich Cantonalbank Has $9.17 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,401 shares of the company's stock after acquiring an additional 4,596 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in McCormick & Company, Incorporated were worth $9,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in McCormick & Company, Incorporated by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after purchasing an additional 137,679 shares in the last quarter. Northern Trust Corp raised its holdings in shares of McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after buying an additional 531,060 shares during the last quarter. Voya Investment Management LLC lifted its position in McCormick & Company, Incorporated by 10.2% during the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock worth $269,060,000 after buying an additional 326,041 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in McCormick & Company, Incorporated by 6.3% in the 4th 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of McCormick & Company, Incorporated by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company's stock worth $232,264,000 after acquiring an additional 43,353 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Insiders Place Their Bets

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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 0.5%

MKC traded down $0.33 during trading on Friday, hitting $70.30. The company had a trading volume of 1,401,903 shares, compared to its average volume of 2,092,515. The company has a market capitalization of $18.87 billion, a PE ratio of 24.41, a PEG ratio of 3.40 and a beta of 0.66. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a one year low of $69.84 and a one year high of $86.24. The firm's 50-day moving average price is $73.25 and its 200 day moving average price is $75.99.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm earned $0.69 EPS. McCormick & Company, Incorporated's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup lowered their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. UBS Group started coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Stifel Nicolaus reduced their target price 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.00.

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.