Pictet Asset Management Holding SA Sells 7,803 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Pictet Asset Management Holding SA lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,062,688 shares of the company’s stock after selling 7,803 shares during the quarter. Pictet Asset Management Holding SA owned about 0.40% of McCormick & Company, Incorporated worth $81,019,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company’s stock valued at $2,419,653,000 after purchasing an additional 303,973 shares during the last quarter. State Street Corp boosted its holdings in shares of McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $482,823,000 after buying an additional 54,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in McCormick & Company, Incorporated by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after acquiring an additional 177,567 shares during the period. Finally, Norges Bank bought a new position in McCormick & Company, Incorporated in the 4th quarter worth $223,202,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.2 %

Shares of MKC stock opened at $81.47 on Friday. The firm has a fifty day moving average of $79.26 and a 200-day moving average of $78.83. The stock has a market cap of $21.85 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MKC shares. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.75.

McCormick & Company, Incorporated 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.