Impax Asset Management Group plc Has $72.75 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Impax Asset Management Group plc grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 157.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,063,273 shares of the company's stock after purchasing an additional 649,908 shares during the quarter. Impax Asset Management Group plc owned approximately 0.40% of McCormick & Company, Incorporated worth $72,749,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MKC. Legacy Financial Group LLC bought a new stake in McCormick & Company, Incorporated in the third quarter worth approximately $29,000. Anchor Investment Management LLC purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth $36,000. Point72 Hong Kong Ltd purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at $44,000. ICA Group Wealth Management LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $46,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $47,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares in the company, valued at $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Patricia A. Little sold 20,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $2,376,400 over the last quarter. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Performance

MKC stock remained flat at $75.63 on Tuesday. The company had a trading volume of 1,045,848 shares, compared to its average volume of 2,148,404. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The stock's 50-day simple moving average is $69.53 and its 200 day simple moving average is $67.53. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $20.30 billion, a PE ratio of 28.87, a P/E/G ratio of 3.87 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.22%. McCormick & Company, Incorporated's payout ratio is currently 64.12%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Consumer Edge lowered McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a report on Monday, January 22nd. Argus raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Barclays upped their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating on the stock in a research note on Friday, January 26th. Finally, Citigroup increased their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a "sell" rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $77.88.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.

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