McCormick & Company, Incorporated (NYSE:MKC) Holdings Lifted by Nordea Investment Management AB

Nordea Investment Management AB grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 10.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,507 shares of the company’s stock after buying an additional 1,955 shares during the period. Nordea Investment Management AB’s holdings in McCormick & Company, Incorporated were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC grew its position in McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after purchasing an additional 54,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after acquiring an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after acquiring an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after acquiring an additional 30,696 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 4.2 %

MKC stock opened at $71.40 on Friday. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The firm has a market cap of $19.16 billion, a PE ratio of 24.29, a P/E/G ratio of 3.44 and a beta of 0.75. The firm has a 50 day simple moving average of $77.33 and a 200 day simple moving average of $77.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $86.00 to $90.00 in a report on Wednesday. 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. Finally, Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by corporate insiders.

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.