Rhumbline Advisers Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Rhumbline Advisers raised its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 509,627 shares of the company's stock after buying an additional 45,756 shares during the quarter. Rhumbline Advisers owned 0.19% of McCormick & Company, Incorporated worth $41,947,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Savvy Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $466,000. Somerville Kurt F grew its holdings in shares of McCormick & Company, Incorporated by 34.2% in the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company's stock worth $7,325,000 after purchasing an additional 24,467 shares during the last quarter. DJE Kapital AG bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $4,228,000. SBI Securities Co. Ltd. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $234,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 16.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company's stock worth $10,547,000 after purchasing an additional 19,491 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $83.14.

Insiders Place Their Bets

In other news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $223,905.00. Following the transaction, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. This represents a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.5%

MKC stock traded down $0.37 during trading on Thursday, hitting $72.87. The company had a trading volume of 1,589,792 shares, compared to its average volume of 2,038,314. The business has a 50-day moving average of $75.05 and a 200-day moving average of $77.09. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The stock has a market cap of $19.54 billion, a PE ratio of 24.87, a PEG ratio of 3.76 and a beta of 0.74. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. Research analysts predict 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 announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

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.