McCormick & Company, Incorporated (NYSE:MKC) Holdings Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,446 shares of the company’s stock after acquiring an additional 15,179 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $35,683,000 at the end of the most recent reporting period.

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

McCormick & Company, Incorporated Stock Down 0.2 %

MKC opened at $81.47 on Friday. The firm has a market cap of $21.85 billion, a P/E ratio of 27.80, a price-to-earnings-growth 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. The business has a 50 day moving average price of $79.26 and a 200 day moving average price of $78.83. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data 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 return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is presently 61.86%.

Analyst Upgrades and Downgrades

MKC has been the topic of several research analyst reports. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays cut their price target on 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. JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note 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 objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.75.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.80% of the stock is owned by insiders.

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.