HM Payson & Co. Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)


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HM Payson & Co. grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 108.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,238 shares of the company’s stock after buying an additional 2,730 shares during the period. HM Payson & Co.’s holdings in McCormick & Company, Incorporated were worth $501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MKC. BlackRock Inc. raised its holdings in shares of McCormick & Company, Incorporated by 96.2% in the fourth quarter. BlackRock Inc. now owns 20,826,434 shares of the company’s stock worth $1,991,007,000 after buying an additional 10,210,806 shares during the last quarter. Fundsmith LLP raised its holdings in shares of McCormick & Company, Incorporated by 113.9% during the fourth quarter. Fundsmith LLP now owns 16,133,793 shares of the company’s stock worth $1,542,391,000 after purchasing an additional 8,591,698 shares during the last quarter. Norges Bank purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $169,698,000. Northern Trust Corp raised its holdings in shares of McCormick & Company, Incorporated by 95.4% during the fourth quarter. Northern Trust Corp now owns 2,882,783 shares of the company’s stock worth $275,595,000 after purchasing an additional 1,407,210 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of McCormick & Company, Incorporated by 102.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,104,223 shares of the company’s stock worth $201,164,000 after purchasing an additional 1,065,692 shares during the last quarter. 37.49% of the stock is owned by institutional investors and hedge funds.

Separately, Argus reissued a “hold” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, March 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $87.64.

MKC stock opened at $89.16 on Thursday. The firm has a market cap of $23.80 billion, a PE ratio of 31.51, a P/E/G ratio of 5.74 and a beta of 0.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.42 and a current ratio of 0.90. The firm’s fifty day moving average is $86.53 and its 200 day moving average is $92.43. McCormick & Company, Incorporated has a one year low of $72.79 and a one year high of $105.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Monday, March 29th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.14. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. McCormick & Company, Incorporated had a net margin of 13.75% and a return on equity of 20.93%. During the same quarter last year, the business earned $0.54 earnings per share. Research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 26th. Investors of record on Monday, April 12th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, April 9th. This represents a $1.36 annualized dividend and a yield of 1.53%. McCormick & Company, Incorporated’s dividend payout ratio is presently 50.94%.

McCormick & Company, Incorporated Company Profile

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

Further Reading: Momentum Indicators

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

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