McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,401 shares of the company’s stock after buying an additional 791 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in McCormick & Company, Incorporated were worth $3,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company’s stock valued at $2,419,653,000 after buying an additional 303,973 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of McCormick & Company, Incorporated by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock worth $458,114,000 after purchasing an additional 137,679 shares in the last quarter. Northern Trust Corp lifted its position in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after purchasing an additional 531,060 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company’s stock worth $269,060,000 after purchasing an additional 326,041 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of McCormick & Company, Incorporated by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company’s stock worth $245,114,000 after purchasing an additional 190,856 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 1.7%

Shares of NYSE:MKC opened at $75.28 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $74.40 and a 200 day simple moving average of $76.57. The firm has a market cap of $20.20 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.68 and a beta of 0.68. McCormick & Company, Incorporated has a 12-month low of $69.00 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Insider Activity

In related news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MKC. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Citigroup reduced their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. Finally, UBS Group began coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a “neutral” rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.13.

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.