Asset Management One Co. Ltd. Buys 4,282 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Asset Management One Co. Ltd. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.1% in the first quarter, Holdings Channel reports. The institutional investor owned 141,173 shares of the company’s stock after buying an additional 4,282 shares during the period. Asset Management One Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $11,620,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $223,202,000. Select Equity Group L.P. bought a new position in McCormick & Company, Incorporated during the 4th quarter worth $104,863,000. Balyasny Asset Management L.P. increased its position in shares of McCormick & Company, Incorporated by 47.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company’s stock worth $216,771,000 after purchasing an additional 915,807 shares during the period. Northern Trust Corp increased its position in shares of McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after purchasing an additional 531,060 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in McCormick & Company, Incorporated by 88.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company’s stock valued at $67,035,000 after acquiring an additional 412,074 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $77.63 on Friday. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.70 and a beta of 0.68. The firm’s 50-day moving average is $74.32 and its 200 day moving average is $76.74. McCormick & Company, Incorporated has a 1 year low of $69.00 and a 1 year high of $86.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group assumed coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They set a “neutral” rating and a $83.00 price target on the stock. Citigroup decreased their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. Finally, Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $84.13.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares of the company’s stock, valued at approximately $184,497.72. This trade represents a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,392 shares of company stock worth $4,898,101 over the last quarter. Insiders own 23.80% of the company’s stock.

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.