Principal Financial Group Inc. Sells 118,312 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Principal Financial Group Inc. decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,254 shares of the company’s stock after selling 118,312 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of McCormick & Company, Incorporated worth $29,684,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MKC. Moors & Cabot Inc. boosted its stake in McCormick & Company, Incorporated by 1,586.3% during the 3rd quarter. Moors & Cabot Inc. now owns 50,000 shares of the company’s stock worth $51,000 after acquiring an additional 47,035 shares during the last quarter. EagleClaw Capital Managment LLC boosted its stake in McCormick & Company, Incorporated by 2.4% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 21,680 shares of the company’s stock worth $1,755,000 after acquiring an additional 500 shares during the last quarter. Mackenzie Financial Corp boosted its stake in McCormick & Company, Incorporated by 27.0% during the 3rd quarter. Mackenzie Financial Corp now owns 21,108 shares of the company’s stock worth $1,710,000 after acquiring an additional 4,488 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in McCormick & Company, Incorporated by 78.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,885 shares of the company’s stock worth $159,000 after acquiring an additional 827 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in McCormick & Company, Incorporated by 1.3% during the 3rd quarter. BlackRock Inc. now owns 19,454,576 shares of the company’s stock worth $1,576,404,000 after acquiring an additional 252,370 shares during the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on MKC. Credit Suisse Group lowered shares of McCormick & Company, Incorporated from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research note on Wednesday, January 19th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Thursday, February 17th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lifted their price target on shares of McCormick & Company, Incorporated from $96.00 to $99.00 in a research note on Wednesday, March 30th. Finally, StockNews.com began coverage on shares of McCormick & Company, Incorporated in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $99.80.

In other news, CFO Michael R. Smith sold 19,986 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $104.04, for a total value of $2,079,343.44. Following the sale, the chief financial officer now directly owns 93,025 shares in the company, valued at $9,678,321. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is owned by company insiders.

NYSE MKC opened at $100.27 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.73 and a debt-to-equity ratio of 0.86. McCormick & Company, Incorporated has a 12-month low of $77.85 and a 12-month high of $107.35. The company has a market capitalization of $26.88 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 5.07 and a beta of 0.45. The firm’s 50 day moving average is $99.50 and its 200-day moving average is $94.91.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its quarterly earnings data on Tuesday, March 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. McCormick & Company, Incorporated had a net margin of 11.77% and a return on equity of 18.00%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $0.72 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 25th. Stockholders of record on Monday, April 11th were issued a $0.37 dividend. The ex-dividend date was Friday, April 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.48%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 53.43%.

McCormick & Company, Incorporated Company Profile (Get Rating)

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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