Northern Trust Corp Has $227.09 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Northern Trust Corp cut its position in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,319,083 shares of the company’s stock after selling 119,683 shares during the quarter. Northern Trust Corp owned about 1.24% of McCormick & Company, Incorporated worth $227,092,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MKC. Cibc World Markets Corp increased its stake in shares of McCormick & Company, Incorporated by 118.2% in the 4th quarter. Cibc World Markets Corp now owns 133,270 shares of the company’s stock valued at $9,118,000 after acquiring an additional 72,195 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in McCormick & Company, Incorporated by 1,974.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 243,687 shares of the company’s stock worth $16,673,000 after acquiring an additional 231,938 shares in the last quarter. 1832 Asset Management L.P. grew its stake in McCormick & Company, Incorporated by 6.5% in the fourth quarter. 1832 Asset Management L.P. now owns 141,006 shares of the company’s stock valued at $9,648,000 after acquiring an additional 8,617 shares during the period. First Trust Advisors LP increased its holdings in shares of McCormick & Company, Incorporated by 6.1% during the fourth quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock valued at $68,737,000 after acquiring an additional 57,839 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $430,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of NYSE:MKC opened at $68.58 on Friday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The company has a market capitalization of $18.41 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.52 and a beta of 0.74. The business has a fifty day moving average price of $73.87 and a two-hundred day moving average price of $69.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.45%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction dated Monday, April 22nd. The shares were 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 Securities & Exchange Commission, which is available at this link. In other news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the company’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 sale, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,458 shares of company stock valued at $8,286,114. 22.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MKC shares. Citigroup lifted their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Barclays upped their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Finally, Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $77.88.

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About McCormick & Company, Incorporated

(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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