Schroder Investment Management Group Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Schroder Investment Management Group boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 355,565 shares of the company’s stock after purchasing an additional 190 shares during the period. Schroder Investment Management Group owned about 0.13% of McCormick & Company, Incorporated worth $26,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. Allstate Corp purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $575,000. DnB Asset Management AS raised its holdings in McCormick & Company, Incorporated by 10.2% in the fourth quarter. DnB Asset Management AS now owns 57,101 shares of the company’s stock valued at $4,353,000 after acquiring an additional 5,270 shares in the last quarter. Alerus Financial NA bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $2,210,000. Level Four Advisory Services LLC grew its holdings in McCormick & Company, Incorporated by 1.1% during the 4th quarter. Level Four Advisory Services LLC now owns 71,241 shares of the company’s stock worth $5,431,000 after acquiring an additional 767 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in McCormick & Company, Incorporated during the 4th quarter worth $2,932,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.1 %

MKC stock opened at $81.34 on Thursday. The stock has a market cap of $21.81 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The firm’s 50-day simple moving average is $79.76 and its 200 day simple moving average is $78.81. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. 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 (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm posted $0.63 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MKC shares. JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Barclays lowered 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. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $83.14.

Insider Activity

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.80% of the company’s stock.

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.