Jennison Associates LLC Has $3.45 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Jennison Associates LLC trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,399 shares of the company’s stock after selling 8,573 shares during the quarter. Jennison Associates LLC’s holdings in McCormick & Company, Incorporated were worth $3,448,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MKC. Legacy Financial Group LLC acquired a new position in shares of McCormick & Company, Incorporated in the third quarter valued at about $29,000. Anchor Investment Management LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $36,000. Milestone Investment Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $47,000. Valley National Advisers Inc. boosted its stake in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after buying an additional 582 shares during the period. Finally, Private Trust Co. NA grew its position in McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after buying an additional 290 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the transaction, the director now owns 24,732 shares in the company, valued at approximately $1,868,997.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock worth $2,504,728 over the last three months. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

Shares of MKC stock opened at $75.73 on Friday. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The stock’s fifty day simple moving average is $71.61 and its 200 day simple moving average is $67.83. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $20.33 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.88 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Analyst Ratings Changes

MKC has been the topic of several analyst reports. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Stifel Nicolaus boosted their target price 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. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Barclays boosted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated Company 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.