McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,892 shares of the company’s stock after acquiring an additional 434 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $608,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock worth $8,216,000 after acquiring an additional 42,625 shares during the last quarter. Cullen Investment Group LTD. acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $5,728,000. International Assets Investment Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 7,344.4% in the 4th quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after acquiring an additional 114,572 shares during the last quarter. abrdn plc lifted its holdings in shares of McCormick & Company, Incorporated by 19.1% in the 4th quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after acquiring an additional 71,133 shares during the last quarter. Finally, Jacobs & Co. CA lifted its holdings in shares of McCormick & Company, Incorporated by 12.7% in the 4th quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock worth $9,780,000 after acquiring an additional 16,098 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Finally, Barclays lifted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $77.88.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,726 shares of company stock valued at $2,504,728. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE:MKC opened at $75.73 on Friday. The firm’s 50 day moving average price is $71.61 and its 200 day moving average price is $67.87. The stock has a market cap of $20.33 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

McCormick & Company, Incorporated Profile

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.