Empirical Finance LLC Purchases 1,142 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Empirical Finance LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 36.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,247 shares of the company’s stock after buying an additional 1,142 shares during the period. Empirical Finance LLC’s holdings in McCormick & Company, Incorporated were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MKC. Nordea Investment Management AB increased its position in McCormick & Company, Incorporated by 141.7% during the 3rd quarter. Nordea Investment Management AB now owns 5,928,070 shares of the company’s stock valued at $491,022,000 after buying an additional 3,475,139 shares in the last quarter. Fundsmith LLP increased its position in McCormick & Company, Incorporated by 5.1% during the 3rd quarter. Fundsmith LLP now owns 18,713,629 shares of the company’s stock valued at $1,516,365,000 after buying an additional 908,972 shares in the last quarter. BlackRock Inc. increased its position in McCormick & Company, Incorporated by 1.3% during the 3rd quarter. BlackRock Inc. now owns 19,454,576 shares of the company’s stock valued at $1,576,404,000 after buying an additional 252,370 shares in the last quarter. Boston Common Asset Management LLC increased its position in McCormick & Company, Incorporated by 419.0% during the 3rd quarter. Boston Common Asset Management LLC now owns 225,802 shares of the company’s stock valued at $18,297,000 after buying an additional 182,291 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its position in McCormick & Company, Incorporated by 15.6% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,346,398 shares of the company’s stock valued at $109,099,000 after buying an additional 181,612 shares in the last quarter. 71.82% of the stock is owned by institutional investors.

In other McCormick & Company, Incorporated news, VP Lisa Manzone sold 34,072 shares of the firm’s stock in a transaction dated Friday, January 28th. The stock was sold at an average price of $97.11, for a total transaction of $3,308,731.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lawrence Erik Kurzius sold 90,000 shares of the firm’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $100.09, for a total value of $9,008,100.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,442 shares of company stock worth $17,127,439. Insiders own 15.90% of the company’s stock.

MKC stock opened at $101.57 on Monday. The company has a market cap of $27.23 billion, a P/E ratio of 36.67, a price-to-earnings-growth ratio of 5.25 and a beta of 0.48. McCormick & Company, Incorporated has a 1 year low of $77.85 and a 1 year high of $107.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.32. The stock’s fifty day moving average price is $99.00 and its 200-day moving average price is $92.28.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 25th. Shareholders of record on Monday, April 11th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, April 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.46%. McCormick & Company, Incorporated’s dividend payout ratio is presently 53.43%.

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

McCormick & Company, Incorporated 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.

See Also

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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