Mitsubishi UFJ Asset Management Co. Ltd. Buys 12,771 Shares of McCormick & Company, Incorporated $MKC

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 607,039 shares of the company’s stock after acquiring an additional 12,771 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.23% of McCormick & Company, Incorporated worth $40,842,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Intact Investment Management Inc. increased its stake in shares of McCormick & Company, Incorporated by 13.8% in the 4th quarter. Intact Investment Management Inc. now owns 74,900 shares of the company’s stock valued at $5,101,000 after acquiring an additional 9,100 shares in the last quarter. Horizon Investments LLC increased its stake in shares of McCormick & Company, Incorporated by 5.9% in the 4th quarter. Horizon Investments LLC now owns 11,498 shares of the company’s stock valued at $783,000 after acquiring an additional 637 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of McCormick & Company, Incorporated by 51.2% in the 4th quarter. North Star Investment Management Corp. now owns 3,952 shares of the company’s stock valued at $269,000 after acquiring an additional 1,338 shares in the last quarter. Verity Asset Management Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $301,000. Finally, Cardinal Capital Management grew its position in McCormick & Company, Incorporated by 0.6% in the 4th quarter. Cardinal Capital Management now owns 102,971 shares of the company’s stock valued at $7,062,000 after purchasing an additional 591 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $48.29 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market cap of $12.98 billion, a P/E ratio of 7.92, a PEG ratio of 2.35 and a beta of 0.68. The company has a fifty day simple moving average of $55.38 and a 200 day simple moving average of $62.60. McCormick & Company, Incorporated has a 12-month low of $47.30 and a 12-month high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

Analysts Set New Price Targets

Several analysts recently issued reports on MKC shares. HSBC reduced their price target on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Zacks Research raised shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Finally, UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $64.27.

Insiders Place Their Bets

In other news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were purchased at an average cost of $52.98 per share, with a total value of $105,960.00. Following the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. The trade was a 220.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, February 9th. The stock was sold at an average price of $67.92, for a total transaction of $339,600.00. Following the transaction, the director directly owned 43,029 shares in the company, valued at $2,922,529.68. This represents a 10.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private?label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.