T. Rowe Price Investment Management Inc. Purchases 190,856 Shares of McCormick & Company, Incorporated (NYSE:MKC)

T. Rowe Price Investment Management Inc. boosted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,215,030 shares of the company's stock after buying an additional 190,856 shares during the period. T. Rowe Price Investment Management Inc. owned 1.20% of McCormick & Company, Incorporated worth $245,114,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. International Private Wealth Advisors LLC increased its position in McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock worth $276,000 after buying an additional 136 shares during the period. Hazlett Burt & Watson Inc. increased its holdings in shares of McCormick & Company, Incorporated by 2.8% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after purchasing an additional 137 shares during the period. Empower Advisory Group LLC increased its holdings in shares of McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after purchasing an additional 138 shares during the period. Bessemer Group Inc. increased its holdings in shares of McCormick & Company, Incorporated by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock valued at $3,278,000 after purchasing an additional 139 shares during the period. Finally, Hunter Associates Investment Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock valued at $954,000 after purchasing an additional 153 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock traded up $0.76 during mid-day trading on Tuesday, reaching $75.47. The company had a trading volume of 351,040 shares, compared to its average volume of 1,953,584. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a 50 day moving average of $79.11 and a 200-day moving average of $77.85. The firm has a market cap of $20.24 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated's revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the stock in a transaction dated Thursday, April 3rd. The shares were 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 owns 2,266 shares in the company, 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 the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 80,842 shares of company stock valued at $6,478,332. Company insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MKC. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus 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.