Westpac Banking Corp boosted its position in McCormick & Company, Incorporated (NYSE:MKC – Get Rating) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,569 shares of the company's stock after acquiring an additional 784 shares during the quarter. Westpac Banking Corp's holdings in McCormick & Company, Incorporated were worth $2,119,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in McCormick & Company, Incorporated by 1.1% in the third quarter. Vanguard Group Inc. now owns 29,812,081 shares of the company's stock valued at $2,124,707,000 after acquiring an additional 321,099 shares during the last quarter. State Street Corp increased its stake in McCormick & Company, Incorporated by 4.3% in the third quarter. State Street Corp now owns 13,756,198 shares of the company's stock valued at $980,404,000 after acquiring an additional 564,889 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in McCormick & Company, Incorporated by 27.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,377,729 shares of the company's stock valued at $240,730,000 after acquiring an additional 737,040 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in McCormick & Company, Incorporated by 12.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,297,939 shares of the company's stock valued at $163,775,000 after acquiring an additional 248,526 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in McCormick & Company, Incorporated by 15.6% in the fourth quarter. ProShare Advisors LLC now owns 2,212,155 shares of the company's stock valued at $183,366,000 after acquiring an additional 299,244 shares during the last quarter. Institutional investors own 79.15% of the company's stock.
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In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the transaction, the director now directly owns 38,137 shares in the company, valued at $2,860,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
MKC has been the topic of a number of research analyst reports. UBS Group began coverage on McCormick & Company, Incorporated in a research note on Friday, March 10th. They issued a "sell" rating and a $71.00 target price on the stock. StockNews.com began coverage on McCormick & Company, Incorporated in a research note on Thursday, March 16th. They set a "hold" rating on the stock. Bank of America raised their price objective on McCormick & Company, Incorporated from $73.00 to $75.00 and gave the company an "underperform" rating in a research note on Wednesday, March 29th. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $63.00 to $66.00 and gave the company an "underweight" rating in a research note on Wednesday, March 29th. Finally, Stifel Nicolaus began coverage on McCormick & Company, Incorporated in a research note on Thursday, April 13th. They set a "hold" rating and a $82.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $80.10.
McCormick & Company, Incorporated Stock Up 0.5 %
NYSE MKC opened at $87.85 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.73 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $70.60 and a 1 year high of $103.36. The business's 50-day moving average is $78.92 and its 200 day moving average is $79.84. The stock has a market capitalization of $23.56 billion, a PE ratio of 35.57, a PEG ratio of 4.84 and a beta of 0.58.
McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.49 by $0.10. McCormick & Company, Incorporated had a net margin of 10.42% and a return on equity of 14.34%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business posted $0.63 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.61 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 24th. Shareholders of record on Monday, April 10th were issued a $0.39 dividend. The ex-dividend date was Thursday, April 6th. This represents a $1.56 annualized dividend and a yield of 1.78%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 63.16%.
McCormick & Company, Incorporated Company Profile
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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.
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