Pictet Asset Management Holding SA Has $81.02 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Pictet Asset Management Holding SA lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,062,688 shares of the company’s stock after selling 7,803 shares during the quarter. Pictet Asset Management Holding SA’s holdings in McCormick & Company, Incorporated were worth $81,019,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms recently issued reports on MKC. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised 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 research note on Thursday. Barclays reduced their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One investment 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Down 0.2 %

Shares of NYSE:MKC opened at $81.47 on Friday. The company has a 50 day moving average price of $79.26 and a two-hundred day moving average price of $78.83. 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 company has a market capitalization of $21.85 billion, a PE ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24.

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

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity

In related 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 transaction of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at $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 available at this hyperlink. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated 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.