Sumitomo Mitsui DS Asset Management Company Ltd Has $2.25 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,808 shares of the company’s stock after selling 561 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in McCormick & Company, Incorporated were worth $2,245,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MKC. Legacy Financial Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $29,000. Anchor Investment Management LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $36,000. Milestone Investment Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $47,000. Valley National Advisers Inc. lifted its holdings in McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in McCormick & Company, Incorporated by 59.1% during the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the sale, the director now owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Insiders have sold 33,726 shares of company stock worth $2,504,728 in the last 90 days. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MKC. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Citigroup lifted their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective 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, Barclays lifted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Trading Up 1.1 %

Shares of MKC opened at $75.85 on Thursday. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The business’s fifty day moving average is $71.22 and its 200-day moving average is $67.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.85 and a beta of 0.74.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

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.