UniSuper Management Pty Ltd Has $2.30 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

UniSuper Management Pty Ltd boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 24.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,097 shares of the company’s stock after buying an additional 5,883 shares during the quarter. UniSuper Management Pty Ltd’s holdings in McCormick & Company, Incorporated were worth $2,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of MKC. International Private Wealth Advisors LLC raised its position in shares of McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after buying an additional 136 shares during the last quarter. Empower Advisory Group LLC raised its holdings in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after acquiring an additional 138 shares in the last quarter. Hunter Associates Investment Management LLC raised its holdings in McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after acquiring an additional 153 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of McCormick & Company, Incorporated by 1.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after acquiring an additional 154 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of McCormick & Company, Incorporated by 3.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock worth $427,000 after purchasing an additional 169 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $81.47 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market cap of $21.85 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company’s 50-day moving average price is $79.26 and its two-hundred day moving average price is $78.83.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MKC has been the subject of a number of recent research reports. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. 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. Finally, Barclays cut their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.75.

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.