UniSuper Management Pty Ltd Has $2.30 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

UniSuper Management Pty Ltd lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,097 shares of the company’s stock after acquiring an additional 5,883 shares during the period. UniSuper Management Pty Ltd’s holdings in McCormick & Company, Incorporated were worth $2,295,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its position in McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares in the last quarter. DJE Kapital AG acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $4,228,000. SBI Securities Co. Ltd. acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $234,000. Asset Management One Co. Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 16.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock valued at $10,547,000 after buying an additional 19,491 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in McCormick & Company, Incorporated by 16.4% during the fourth quarter. DAVENPORT & Co LLC now owns 87,870 shares of the company’s stock valued at $6,699,000 after buying an additional 12,356 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $81.47 on Friday. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company’s fifty day moving average is $79.26 and its 200-day moving average is $78.83. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

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.