Allianz Asset Management GmbH Acquires 8,113 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Allianz Asset Management GmbH raised its holdings in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 27.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,107 shares of the company’s stock after buying an additional 8,113 shares during the period. Allianz Asset Management GmbH’s holdings in McCormick & Company, Incorporated were worth $2,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $36,000. VisionPoint Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $44,000. Valley National Advisers Inc. lifted its stake in shares of 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 buying an additional 582 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of 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 buying an additional 290 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in McCormick & Company, Incorporated by 72.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MKC shares. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. Citigroup upped 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. Barclays boosted their target price 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, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.88.

View Our Latest Analysis on McCormick & Company, Incorporated

McCormick & Company, Incorporated Trading Down 0.9 %

Shares of McCormick & Company, Incorporated stock opened at $68.58 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.50 and a beta of 0.74. The firm’s 50-day moving average price is $73.87 and its two-hundred day moving average price is $69.87.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last posted 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 net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a dividend of $0.42 per share. 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 2.45%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were 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 a total of 111,458 shares of company stock worth $8,286,114 in the last ninety days. 22.90% of the stock is owned by insiders.

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.

Recommended Stories

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

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.