McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Hemenway Trust Co LLC

Hemenway Trust Co LLC increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 53.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,891 shares of the company’s stock after acquiring an additional 74,529 shares during the period. McCormick & Company, Incorporated makes up 1.3% of Hemenway Trust Co LLC’s portfolio, making the stock its 28th biggest position. Hemenway Trust Co LLC’s holdings in McCormick & Company, Incorporated were worth $16,383,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MKC. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company’s stock worth $2,419,653,000 after purchasing an additional 303,973 shares during the last quarter. State Street Corp grew its holdings in McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC increased its position in McCormick & Company, Incorporated by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock valued at $458,114,000 after acquiring an additional 137,679 shares during the period. Norges Bank acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $223,202,000. Finally, Charles Schwab Investment Management Inc. raised its stake in McCormick & Company, Incorporated by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock valued at $115,081,000 after acquiring an additional 46,411 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the company’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 represents a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock worth $6,478,332 in the last quarter. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 5.5 %

MKC stock opened at $76.36 on Friday. The firm has a market cap of $20.48 billion, a PE ratio of 26.06, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $79.91 and a 200 day simple moving average of $78.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company 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 period in the prior year, the company posted $0.63 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is 61.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MKC shares. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, TD Cowen upgraded 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.14.

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.