Hemenway Trust Co LLC Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

Hemenway Trust Co LLC lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 53.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 214,891 shares of the company’s stock after purchasing an additional 74,529 shares during the quarter. McCormick & Company, Incorporated comprises approximately 1.3% of Hemenway Trust Co LLC’s holdings, making the stock its 28th largest holding. Hemenway Trust Co LLC owned approximately 0.08% of McCormick & Company, Incorporated worth $16,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $223,202,000. State Street Corp lifted its holdings in shares of McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Amundi boosted its position in McCormick & Company, Incorporated by 37.5% during the 4th quarter. Amundi now owns 1,372,446 shares of the company’s stock worth $102,275,000 after purchasing an additional 374,559 shares during the period. Teacher Retirement System of Texas boosted its position in McCormick & Company, Incorporated by 9,283.1% during the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company’s stock worth $27,999,000 after purchasing an additional 363,339 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in McCormick & Company, Incorporated by 321.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after purchasing an additional 343,070 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 5.5 %

Shares of NYSE:MKC opened at $76.36 on Friday. The firm has a market cap of $20.48 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a fifty day simple moving average of $79.91 and a 200 day simple moving average of $78.76. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 in the last quarter. Insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.14.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.