Handelsbanken Fonder AB Raises Stock Holdings in McCormick & Company, Incorporated $MKC

Handelsbanken Fonder AB lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 192,449 shares of the company’s stock after acquiring an additional 11,906 shares during the quarter. Handelsbanken Fonder AB’s holdings in McCormick & Company, Incorporated were worth $13,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Invesco Ltd. increased its position in McCormick & Company, Incorporated by 66.7% in the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock worth $417,006,000 after buying an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of McCormick & Company, Incorporated by 67.2% in the third quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock valued at $187,183,000 after buying an additional 1,124,003 shares during the period. State Street Corp raised its stake in shares of McCormick & Company, Incorporated by 5.1% in the third quarter. State Street Corp now owns 15,522,816 shares of the company’s stock valued at $1,038,632,000 after buying an additional 747,844 shares during the period. American Century Companies Inc. bought a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $48,576,000. Finally, Scopus Asset Management L.P. raised its stake in shares of McCormick & Company, Incorporated by 191.0% in the third quarter. Scopus Asset Management L.P. now owns 885,250 shares of the company’s stock valued at $59,232,000 after buying an additional 581,017 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the topic of several research reports. BTIG Research initiated coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Monday, April 27th. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lowered their target price on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Finally, BNP Paribas Exane lowered their target price on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.27.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley purchased 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The stock was bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $46.99 on Friday. The stock has a market cap of $12.63 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The stock has a fifty day moving average of $51.34 and a 200-day moving average of $61.23.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is 31.48%.

About McCormick & Company, Incorporated

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.