Sumitomo Mitsui Trust Group Inc. Acquires 8,605 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612,357 shares of the company’s stock after acquiring an additional 8,605 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of McCormick & Company, Incorporated worth $50,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $20,227,000. Cetera Investment Advisers lifted its stake in shares of McCormick & Company, Incorporated by 470.6% during the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after buying an additional 31,306 shares in the last quarter. Sei Investments Co. boosted its holdings in McCormick & Company, Incorporated by 11.8% in the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after buying an additional 16,420 shares during the period. Boston Trust Walden Corp increased its stake in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after buying an additional 6,588 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of McCormick & Company, Incorporated by 16.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 284,729 shares of the company’s stock valued at $21,870,000 after acquiring an additional 41,042 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the topic of several recent analyst reports. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen upped their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America increased their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Stock Down 1.3 %

Shares of NYSE:MKC opened at $73.97 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $80.48 and its 200 day moving average is $76.23. The stock has a market cap of $19.85 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 3.46 and a beta of 0.77. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

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.