McCormick & Company, Incorporated (NYSE:MKC) Stock Position Raised by Palisade Asset Management LLC

Palisade Asset Management LLC increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 42,172 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Palisade Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MKC. Charles Schwab Investment Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,353,150 shares of the company’s stock worth $92,583,000 after acquiring an additional 35,305 shares in the last quarter. Welch & Forbes LLC grew its stake in shares of McCormick & Company, Incorporated by 43.9% in the 4th quarter. Welch & Forbes LLC now owns 17,511 shares of the company’s stock valued at $1,198,000 after purchasing an additional 5,338 shares during the period. Machina Capital S.A.S. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $717,000. Private Advisor Group LLC lifted its position in shares of McCormick & Company, Incorporated by 6.7% during the 4th quarter. Private Advisor Group LLC now owns 53,532 shares of the company’s stock worth $3,663,000 after buying an additional 3,353 shares during the period. Finally, National Bank of Canada FI boosted its stake in McCormick & Company, Incorporated by 10.4% in the 4th quarter. National Bank of Canada FI now owns 72,905 shares of the company’s stock valued at $5,070,000 after buying an additional 6,892 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded down $0.62 during midday trading on Wednesday, hitting $75.56. 1,327,128 shares of the company were exchanged, compared to its average volume of 2,017,533. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The firm has a market capitalization of $20.28 billion, a P/E ratio of 29.02, a PEG ratio of 3.87 and a beta of 0.73. The firm’s 50 day moving average price is $72.73 and its two-hundred day moving average price is $68.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

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

McCormick & Company, Incorporated Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on MKC. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. Citigroup raised their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” 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. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $77.88.

Insider Activity

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. 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 company insiders.

About McCormick & Company, Incorporated

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.