Fifth Third Bancorp Acquires 6,075 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Fifth Third Bancorp increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,315 shares of the company’s stock after acquiring an additional 6,075 shares during the period. Fifth Third Bancorp’s holdings in McCormick & Company, Incorporated were worth $8,300,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MKC. Moneta Group Investment Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 92,736.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock worth $478,334,000 after buying an additional 5,764,492 shares in the last quarter. Norges Bank bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $148,700,000. Alecta Tjanstepension Omsesidigt bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $92,340,000. Holocene Advisors LP bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth approximately $77,091,000. Finally, Scopus Asset Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 711.3% in the third quarter. Scopus Asset Management L.P. now owns 547,600 shares of the company’s stock worth $41,420,000 after buying an additional 480,100 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at $430,738. The disclosure for this sale can be found here. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.0 %

Shares of MKC stock opened at $76.81 on Monday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The firm has a fifty day moving average price of $68.42 and a 200-day moving average price of $67.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 3.97 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.83 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Wall Street Analyst Weigh In

MKC has been the topic of several analyst reports. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Citigroup boosted their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price objective on shares of 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 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 report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.43.

View Our Latest Stock Analysis on MKC

McCormick & Company, Incorporated Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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