DnB Asset Management AS Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

DnB Asset Management AS lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,101 shares of the company’s stock after acquiring an additional 5,270 shares during the quarter. DnB Asset Management AS’s holdings in McCormick & Company, Incorporated were worth $4,353,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $30,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $38,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MKC. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday. Barclays dropped their price objective 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. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on 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, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.75.

Insider Buying and Selling

In other McCormick & Company, Incorporated 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 stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

MKC opened at $81.47 on Monday. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The company’s 50 day simple moving average is $79.26 and its 200 day simple moving average is $78.81. The stock has a market capitalization of $21.85 billion, a PE ratio of 27.80, a P/E/G ratio of 3.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.45 per share. 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%.

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.