Daiwa Securities Group Inc. Has $1.77 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Daiwa Securities Group Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,913 shares of the company’s stock after buying an additional 5,101 shares during the period. Daiwa Securities Group Inc.’s holdings in McCormick & Company, Incorporated were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $92,340,000. Impax Asset Management Group plc increased its stake in shares of McCormick & Company, Incorporated by 157.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock valued at $72,749,000 after buying an additional 649,908 shares during the period. Fenimore Asset Management Inc. increased its stake in shares of McCormick & Company, Incorporated by 369.2% in the fourth quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after buying an additional 546,911 shares during the period. Scopus Asset Management L.P. increased 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 valued at $41,420,000 after buying an additional 480,100 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 183.2% in the third quarter. Acadian Asset Management LLC now owns 641,897 shares of the company’s stock valued at $48,535,000 after buying an additional 415,269 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.0 %

Shares of NYSE:MKC opened at $74.69 on Tuesday. The business’s 50 day simple moving average is $70.80 and its two-hundred day simple moving average is $67.56. The firm has a market cap of $20.05 billion, a P/E ratio of 28.51, a PEG ratio of 3.79 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.25%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MKC. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Barclays raised their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Finally, Citigroup raised their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.88.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at $430,738. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Patricia A. Little sold 20,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction that occurred 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 directly owns 5,594 shares of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $2,376,400 over the last 90 days. 22.90% of the stock is currently owned by corporate insiders.

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.