Sumitomo Mitsui Trust Group Inc. Boosts Position in McCormick & Company, Incorporated (NYSE:MKC)

Sumitomo Mitsui Trust Group Inc. grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,774 shares of the company’s stock after buying an additional 11,417 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of McCormick & Company, Incorporated worth $47,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Kennebec Savings Bank purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $40,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 2.2 %

NYSE MKC opened at $76.65 on Tuesday. The company has a market cap of $20.55 billion, a P/E ratio of 26.16, a P/E/G ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49. 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 company has a 50-day moving average of $76.70 and a 200-day moving average of $78.38.

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

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.45 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.43%.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of analyst reports. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Company Profile

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.