Notis McConarty Edward Buys 4,428 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Notis McConarty Edward increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 14.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 35,530 shares of the company's stock after purchasing an additional 4,428 shares during the period. McCormick & Company, Incorporated accounts for 1.5% of Notis McConarty Edward's investment portfolio, making the stock its 27th largest position. Notis McConarty Edward's holdings in McCormick & Company, Incorporated were worth $2,924,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in MKC. Envestnet Portfolio Solutions Inc. raised its holdings in shares of McCormick & Company, Incorporated by 18.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,790 shares of the company's stock valued at $594,000 after buying an additional 1,229 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of McCormick & Company, Incorporated by 9.7% during the 4th quarter. Virtu Financial LLC now owns 7,566 shares of the company's stock valued at $577,000 after buying an additional 667 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in shares of McCormick & Company, Incorporated by 46.3% during the 4th quarter. Mizuho Securities USA LLC now owns 23,902 shares of the company's stock valued at $1,822,000 after buying an additional 7,560 shares in the last quarter. Sei Investments Co. raised its holdings in shares of McCormick & Company, Incorporated by 18.1% during the 4th quarter. Sei Investments Co. now owns 161,478 shares of the company's stock valued at $12,311,000 after buying an additional 24,786 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $6,778,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MKC. UBS Group began coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective on the stock. Citigroup reduced 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, June 17th. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $84.13.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Up 0.2%

McCormick & Company, Incorporated stock traded up $0.17 during mid-day trading on Friday, reaching $71.62. 1,974,295 shares of the company traded hands, compared to its average volume of 2,201,190. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The firm's 50 day moving average price is $73.37 and its 200 day moving average price is $76.02. The firm has a market capitalization of $19.22 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.44 and a beta of 0.68. McCormick & Company, Incorporated has a 52-week low of $69.98 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared 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 was Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.51%. McCormick & Company, Incorporated's payout ratio 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.