KBC Group NV Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)

KBC Group NV boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.1% in the 4th quarter, Holdings Channel reports. The fund owned 40,903 shares of the company’s stock after acquiring an additional 3,051 shares during the quarter. KBC Group NV’s holdings in McCormick & Company, Incorporated were worth $3,119,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $40,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $38,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 15,000 shares of company stock worth $1,173,350 in the last ninety days. 22.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of analyst reports. Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Down 0.7 %

NYSE:MKC opened at $77.24 on Friday. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49. The stock’s fifty day moving average is $76.73 and its two-hundred day moving average is $78.16. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 3.66 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is 61.43%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.