Victory Capital Management Inc. Boosts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Victory Capital Management Inc. grew its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,358 shares of the company's stock after buying an additional 14,155 shares during the quarter. Victory Capital Management Inc. owned 0.07% of McCormick & Company, Incorporated worth $11,998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the fourth quarter worth about $36,000. Milestone Investment Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the third quarter valued at approximately $47,000. Private Trust Co. NA boosted its stake in McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company's stock valued at $53,000 after acquiring an additional 290 shares in the last quarter. Valley National Advisers Inc. grew its holdings in McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company's stock worth $53,000 after purchasing an additional 582 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company's stock worth $75,000 after purchasing an additional 461 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the company's stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now owns 39,181 shares of the company's stock, valued at approximately $2,554,601.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock valued at $2,504,728. Company insiders own 22.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MKC. JPMorgan Chase & Co. dropped 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. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, March 27th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a research note on Monday, January 22nd. Barclays lifted their price objective on shares of 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. Finally, Citigroup upped their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a "sell" rating in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $77.88.

McCormick & Company, Incorporated Stock Performance

MKC traded up $0.81 during midday trading on Friday, hitting $76.15. 793,080 shares of the company were exchanged, compared to its average volume of 1,605,170. The firm has a market capitalization of $20.44 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 3.91 and a beta of 0.73. The company's 50 day simple moving average is $73.18 and its 200 day simple moving average is $68.89. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced 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 company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.59 earnings per share. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated's payout ratio is 64.12%.

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.