McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 623,774 shares of the company’s stock after buying an additional 11,417 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in McCormick & Company, Incorporated were worth $47,557,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth $28,000. Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $38,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated in the third quarter valued at about $40,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth about $49,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Stock Down 2.2 %

MKC stock opened at $76.65 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $76.70 and a 200-day simple moving average of $78.38. The company has a market capitalization of $20.55 billion, a P/E ratio of 26.16, a PEG ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $64.33 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.35%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.43%.

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.