Palisade Asset Management LLC Has $2.89 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Palisade Asset Management LLC increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,172 shares of the company’s stock after buying an additional 200 shares during the period. Palisade Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in McCormick & Company, Incorporated by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,353,150 shares of the company’s stock valued at $92,583,000 after purchasing an additional 35,305 shares in the last quarter. Welch & Forbes LLC lifted its holdings in shares of McCormick & Company, Incorporated by 43.9% in the fourth quarter. Welch & Forbes LLC now owns 17,511 shares of the company’s stock worth $1,198,000 after acquiring an additional 5,338 shares during the last quarter. Machina Capital S.A.S. bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $717,000. Private Advisor Group LLC increased its position in shares of McCormick & Company, Incorporated by 6.7% during the fourth quarter. Private Advisor Group LLC now owns 53,532 shares of the company’s stock worth $3,663,000 after buying an additional 3,353 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of McCormick & Company, Incorporated by 10.4% in the 4th quarter. National Bank of Canada FI now owns 72,905 shares of the company’s stock valued at $5,070,000 after purchasing an additional 6,892 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the transaction, the director now owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares in the company, valued at $2,554,601.20. The disclosure for this sale can be found here. Insiders have sold 33,726 shares of company stock valued at $2,504,728 over the last ninety days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.8 %

Shares of McCormick & Company, Incorporated stock traded down $0.62 during midday trading on Wednesday, hitting $75.56. The company had a trading volume of 1,327,128 shares, compared to its average volume of 2,017,533. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The company has a 50 day moving average of $72.73 and a 200 day moving average of $68.64. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The stock has a market capitalization of $20.28 billion, a P/E ratio of 29.02, a P/E/G ratio of 3.87 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. McCormick & Company, Incorporated’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. On average, equities analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Analysts Set New Price Targets

MKC has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Barclays upped their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Finally, Citigroup upped their price objective 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated Company 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.