McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.1% in the fourth quarter, HoldingsChannel reports. The fund owned 8,892 shares of the company’s stock after buying an additional 434 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northern Trust Corp increased its stake in shares of McCormick & Company, Incorporated by 2.8% during the 3rd quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after acquiring an additional 93,034 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock valued at $168,045,000 after acquiring an additional 46,063 shares during the last quarter. Invesco Ltd. increased its stake in shares of McCormick & Company, Incorporated by 15.4% during the 3rd quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock valued at $138,313,000 after acquiring an additional 244,211 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $92,340,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock worth $99,682,000 after purchasing an additional 19,962 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.2 %

NYSE MKC opened at $75.73 on Friday. The stock has a market cap of $20.33 billion, a PE ratio of 28.90, a P/E/G ratio of 3.88 and a beta of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The business has a 50 day moving average price of $71.61 and a two-hundred day moving average price of $67.87. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MKC shares. Citigroup boosted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Barclays boosted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.88.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares in the company, valued at approximately $2,554,601.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the sale, the director now directly owns 5,594 shares in the company, valued at $430,738. The disclosure for this sale can be found here. In the last three months, insiders sold 33,726 shares of company stock worth $2,504,728. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated 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.