Northern Trust Corp Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Northern Trust Corp increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,693,239 shares of the company's stock after acquiring an additional 531,060 shares during the quarter. Northern Trust Corp owned about 1.38% of McCormick & Company, Incorporated worth $281,573,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MKC. Savvy Advisors Inc. acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth about $466,000. Somerville Kurt F grew its stake in McCormick & Company, Incorporated by 34.2% during the fourth 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 period. DJE Kapital AG bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth approximately $4,228,000. SBI Securities Co. Ltd. acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $234,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company's stock worth $10,547,000 after buying an additional 19,491 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.7 %

McCormick & Company, Incorporated stock traded down $0.55 during trading on Tuesday, hitting $74.76. 247,056 shares of the company were exchanged, compared to its average volume of 1,955,364. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The business's 50 day moving average is $78.62 and its 200 day moving average is $77.67. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a market capitalization of $20.05 billion, a P/E ratio of 25.51, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business's revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. This trade represents a 54.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MKC has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays dropped their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Company 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.