SBI Okasan Asset Management Co.Ltd. Makes New $830,000 Investment in McCormick & Company, Incorporated $MKC

SBI Okasan Asset Management Co.Ltd. acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,000 shares of the company’s stock, valued at approximately $830,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuance Investments LLC purchased a new position in McCormick & Company, Incorporated in the third quarter worth $15,388,000. WINTON GROUP Ltd boosted its position in McCormick & Company, Incorporated by 76.9% in the third quarter. WINTON GROUP Ltd now owns 37,500 shares of the company’s stock worth $2,509,000 after purchasing an additional 16,300 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in McCormick & Company, Incorporated by 3.5% in the third quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company’s stock worth $58,806,000 after purchasing an additional 29,418 shares during the last quarter. Cibc World Market Inc. purchased a new position in McCormick & Company, Incorporated in the third quarter worth $3,819,000. Finally, PGGM Investments boosted its position in McCormick & Company, Incorporated by 10.2% in the fourth quarter. PGGM Investments now owns 746,607 shares of the company’s stock worth $50,851,000 after purchasing an additional 69,034 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.3%

Shares of NYSE MKC opened at $47.46 on Friday. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. The business’s fifty day moving average price is $50.12 and its 200-day moving average price is $60.54. The stock has a market capitalization of $12.75 billion, a PE ratio of 7.78, a P/E/G ratio of 2.30 and a beta of 0.68.

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

McCormick & Company, Incorporated Dividend Announcement

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

Insider Activity

In related news, Director Gavin Hattersley acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on MKC shares. Jefferies Financial Group cut their price objective on McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Zacks Research raised McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. UBS Group dropped their price target on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.27.

McCormick & Company, Incorporated Company 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.