DAVENPORT & Co LLC Boosts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

DAVENPORT & Co LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,833 shares of the company’s stock after acquiring an additional 2,532 shares during the period. DAVENPORT & Co LLC’s holdings in McCormick & Company, Incorporated were worth $5,873,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company’s stock worth $2,889,787,000 after purchasing an additional 462,997 shares during the period. Moneta Group Investment Advisors LLC increased its position in McCormick & Company, Incorporated by 92,736.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock worth $478,334,000 after buying an additional 5,764,492 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McCormick & Company, Incorporated by 1.9% in the first quarter. Geode Capital Management LLC now owns 5,404,603 shares of the company’s stock valued at $448,737,000 after buying an additional 101,633 shares during the period. Northern Trust Corp lifted its position in shares of McCormick & Company, Incorporated by 2.8% during the 3rd quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after buying an additional 93,034 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 6.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,563,547 shares of the company’s stock worth $223,618,000 after acquiring an additional 152,184 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Barclays lifted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, Citigroup lifted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $77.88.

Get Our Latest Stock Report on MKC

McCormick & Company, Incorporated Trading Down 2.6 %

McCormick & Company, Incorporated stock opened at $76.25 on Thursday. The stock has a market cap of $20.45 billion, a P/E ratio of 29.10, a PEG ratio of 4.03 and a beta of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The firm’s fifty day moving average price is $68.89 and its 200-day moving average price is $67.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last posted its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Equities research analysts forecast that McCormick & Company, Incorporated will post 2.84 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares in the company, valued at $430,738. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,000 shares of company stock worth $2,376,400. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Company Profile

(Free Report)

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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