Alerus Financial NA Buys New Shares in McCormick & Company, Incorporated (NYSE:MKC)

Alerus Financial NA purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,985 shares of the company’s stock, valued at approximately $2,210,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $223,202,000. State Street Corp grew its position in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares during the period. Point72 Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after purchasing an additional 568,276 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of McCormick & Company, Incorporated by 2,778.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after purchasing an additional 441,048 shares during the period. Finally, Amundi lifted its stake in McCormick & Company, Incorporated by 37.5% in the 4th quarter. Amundi now owns 1,372,446 shares of the company’s stock valued at $102,275,000 after purchasing an additional 374,559 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Up 0.9 %

Shares of MKC opened at $81.64 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The firm’s 50 day moving average is $79.09 and its 200-day moving average is $78.88. The stock has a market capitalization of $21.89 billion, a PE ratio of 27.86, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 company 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 quarter last year, the business earned $0.63 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio is 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MKC. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $83.75.

About McCormick & Company, Incorporated

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.