Westwood Holdings Group Inc. Has $8.28 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Westwood Holdings Group Inc. boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,769 shares of the company’s stock after buying an additional 19,041 shares during the quarter. Westwood Holdings Group Inc.’s holdings in McCormick & Company, Incorporated were worth $8,278,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MKC. Norges Bank acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $160,999,000. Massachusetts Financial Services Co. MA boosted its stake in McCormick & Company, Incorporated by 41.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock worth $366,667,000 after purchasing an additional 1,577,636 shares in the last quarter. Nuance Investments LLC acquired a new position in McCormick & Company, Incorporated in the first quarter worth $73,160,000. Vanguard Group Inc. boosted its stake in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its stake in McCormick & Company, Incorporated by 157.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock worth $72,749,000 after purchasing an additional 649,908 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at $14,695,277.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at $14,695,277.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,732 shares of company stock worth $7,982,386. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $0.76 on Friday, hitting $78.82. The company’s stock had a trading volume of 2,183,204 shares, compared to its average volume of 1,967,768. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $71.36 and a two-hundred day moving average of $71.15. The firm has a market capitalization of $21.17 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 4.02 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $88.78.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. TD Cowen reduced their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Company Profile

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.