Swedbank AB Reduces Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Swedbank AB reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.5% during the fourth quarter, Holdings Channel reports. The firm owned 210,472 shares of the company’s stock after selling 1,011 shares during the quarter. Swedbank AB’s holdings in McCormick & Company, Incorporated were worth $16,046,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in shares of McCormick & Company, Incorporated during the third quarter valued at about $28,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Rosenberg Matthew Hamilton purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $38,000. Kennebec Savings Bank bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $49,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Barclays cut 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 report on Monday, January 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.7 %

NYSE:MKC opened at $77.24 on Friday. The stock has a market cap of $20.73 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 3.66 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average price is $76.73 and its 200-day moving average price is $78.16. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.33%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.43%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at $3,194,444. This represents a 11.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 15,000 shares of company stock worth $1,173,350. Company insiders own 22.90% of the company’s stock.

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.