Swedbank AB Has $42.22 Million Position in McCormick & Company, Incorporated $MKC

Key Points

• Swedbank AB trimmed its McCormick stake by 4.5% in the fourth quarter, selling 29,000 shares and ending with 619,898 shares valued at about $42.2 million.
• McCormick reported solid quarterly results, with EPS of $0.66 and revenue of $1.87 billion, both beating estimates. Revenue rose 16.7% year over year.
• The company continues to pay a healthy dividend, recently distributing $0.48 per share, or $1.92 annually, for a yield of about 4.0%.

Swedbank AB lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 619,898 shares of the company's stock after selling 29,000 shares during the quarter. Swedbank AB owned approximately 0.23% of McCormick & Company, Incorporated worth $42,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rafferty Asset Management LLC increased its position in McCormick & Company, Incorporated by 0.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company's stock valued at $1,443,000 after purchasing an additional 157 shares during the period. Ransom Advisory Ltd increased its position in McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company's stock valued at $315,000 after purchasing an additional 160 shares during the period. First Affirmative Financial Network increased its position in McCormick & Company, Incorporated by 3.0% during the 3rd quarter. First Affirmative Financial Network now owns 6,252 shares of the company's stock valued at $418,000 after purchasing an additional 181 shares during the period. Modern Wealth Management LLC increased its position in McCormick & Company, Incorporated by 5.9% during the 2nd quarter. Modern Wealth Management LLC now owns 3,258 shares of the company's stock valued at $247,000 after purchasing an additional 181 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in McCormick & Company, Incorporated by 1.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 15,653 shares of the company's stock valued at $1,066,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley acquired 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director directly owned 2,906 shares in the company, valued at $153,959.88. This represents a 220.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 10.60% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $47.82 on Monday. The company has a market cap of $12.85 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $78.16. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $51.10 and a 200-day moving average of $61.12.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 31.48%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Sanford C. Bernstein decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an "outperform" rating for the company in a research report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, March 30th. BTIG Research assumed coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a "neutral" rating for the company. JPMorgan Chase & Co. decreased their target price on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Finally, Zacks Research raised shares of McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $64.27.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated NYSE: MKC is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick's product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.

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