Impax Asset Management Group plc Sells 15,360 Shares of McCormick & Company, Incorporated $MKC

Impax Asset Management Group plc decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 475,770 shares of the company’s stock after selling 15,360 shares during the quarter. Impax Asset Management Group plc owned 0.18% of McCormick & Company, Incorporated worth $32,405,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Invesco Ltd. grew its position in McCormick & Company, Incorporated by 66.7% during the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock worth $417,006,000 after acquiring an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP grew its position in McCormick & Company, Incorporated by 67.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock worth $187,183,000 after acquiring an additional 1,124,003 shares during the last quarter. State Street Corp grew its position in McCormick & Company, Incorporated by 5.1% during the 3rd quarter. State Street Corp now owns 15,522,816 shares of the company’s stock worth $1,038,632,000 after acquiring an additional 747,844 shares during the last quarter. American Century Companies Inc. bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $48,576,000. Finally, Scopus Asset Management L.P. grew its position in McCormick & Company, Incorporated by 191.0% during the 3rd quarter. Scopus Asset Management L.P. now owns 885,250 shares of the company’s stock worth $59,232,000 after acquiring an additional 581,017 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MKC. Jefferies Financial Group decreased their price objective on shares of McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Sanford C. Bernstein decreased their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Finally, BNP Paribas Exane decreased their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $64.27.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $67.09, for a total transaction of $335,450.00. Following the transaction, the director directly owned 31,596 shares in the company, valued at approximately $2,119,775.64. The trade was a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gavin Hattersley purchased 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 65,000 shares of company stock valued at $4,575,800. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.7%

McCormick & Company, Incorporated stock opened at $51.51 on Friday. The company’s 50 day simple moving average is $58.17 and its 200 day simple moving average is $63.45. McCormick & Company, Incorporated has a fifty-two week low of $47.52 and a fifty-two week high of $78.16. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 2.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. McCormick & Company, Incorporated’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, April 20th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 3.7%. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.