McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 22.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,085 shares of the company’s stock after purchasing an additional 1,481 shares during the period. Global X Japan Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $30,000. Salem Investment Counselors Inc. lifted its position in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after buying an additional 336 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $37,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $73.15 on Thursday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25. The firm has a market capitalization of $19.62 billion, a P/E ratio of 25.14, a P/E/G ratio of 3.67 and a beta of 0.68. The company’s fifty day moving average price is $74.44 and its two-hundred day moving average price is $76.89.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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 14.63% and a net margin of 11.67%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.46%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MKC. 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 report on Tuesday. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday. They set a “neutral” rating and a $83.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.13.

Insider Activity at McCormick & Company, Incorporated

In other news, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 over the last ninety days. Corporate insiders own 23.80% of the company’s stock.

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.