T. Rowe Price Investment Management Inc. Purchases 12,165 Shares of McCormick & Company, Incorporated $MKC

T. Rowe Price Investment Management Inc. boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,070,612 shares of the company’s stock after buying an additional 12,165 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.26% of McCormick & Company, Incorporated worth $413,470,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock valued at $2,854,000 after purchasing an additional 925 shares during the last quarter. Empowered Funds LLC boosted its holdings in McCormick & Company, Incorporated by 19.0% during the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock worth $486,000 after purchasing an additional 941 shares during the last quarter. Woodline Partners LP boosted its holdings in McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock worth $1,756,000 after purchasing an additional 6,189 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in McCormick & Company, Incorporated in the second quarter valued at $6,520,000. Finally, Daiwa Securities Group Inc. grew its position in McCormick & Company, Incorporated by 6.1% in the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after purchasing an additional 2,176 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MKC shares. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Sanford C. Bernstein reduced their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. BTIG Research initiated coverage on McCormick & Company, Incorporated in a report on Tuesday, April 14th. They issued a “neutral” rating for the company. Barclays lowered their target price on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, Jefferies Financial Group reduced their price target on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, June 4th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $61.90.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $46.59 on Friday. The stock has a market cap of $12.52 billion, a P/E ratio of 7.64, a P/E/G ratio of 2.30 and a beta of 0.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. The company has a fifty day moving average price of $49.00 and a two-hundred day moving average price of $58.64. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16.

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 company 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 revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were paid a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was bought at an average cost of $52.98 per share, with a total value of $105,960.00. Following the completion of the transaction, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. This represents a 220.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.60% of the stock is owned by corporate insiders.

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.