Forsta AP Fonden Purchases 3,500 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Forsta AP Fonden boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 8.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 47,200 shares of the company’s stock after purchasing an additional 3,500 shares during the period. Forsta AP Fonden’s holdings in McCormick & Company, Incorporated were worth $3,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. boosted its stake in McCormick & Company, Incorporated by 37.9% in the first quarter. Oppenheimer & Co. Inc. now owns 25,219 shares of the company’s stock valued at $1,937,000 after acquiring an additional 6,936 shares during the last quarter. Nuance Investments LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $73,160,000. SG Americas Securities LLC boosted its stake in McCormick & Company, Incorporated by 333.8% in the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after acquiring an additional 54,616 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of McCormick & Company, Incorporated by 8.3% during the 1st quarter. Empowered Funds LLC now owns 27,011 shares of the company’s stock valued at $2,075,000 after buying an additional 2,077 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of McCormick & Company, Incorporated by 3.6% during the 1st quarter. Empirical Finance LLC now owns 8,982 shares of the company’s stock valued at $690,000 after buying an additional 308 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Katherine Jenkins sold 2,732 shares of McCormick & Company, Incorporated stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of McCormick & Company, Incorporated stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,458 shares of company stock worth $6,235,714. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $71.48 on Monday. The stock has a market cap of $19.20 billion, a PE ratio of 26.08, a PEG ratio of 3.68 and a beta of 0.75. The company’s fifty day moving average is $71.19 and its 200 day moving average is $70.35. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $90.45. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MKC. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Barclays raised their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. TD Cowen cut their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.