Commerzbank Aktiengesellschaft FI Acquires Shares of 14,096 McCormick & Company, Incorporated $MKC

Commerzbank Aktiengesellschaft FI acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 14,096 shares of the company’s stock, valued at approximately $960,000.

Several other large investors also recently added to or reduced their stakes in MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of McCormick & Company, Incorporated by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares during the period. Empowered Funds LLC lifted its position in shares of McCormick & Company, Incorporated by 19.0% in the 1st 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 period. Woodline Partners LP lifted its position in shares of McCormick & Company, Incorporated by 40.9% in the 1st 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 period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $6,520,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of McCormick & Company, Incorporated by 6.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock worth $2,873,000 after purchasing an additional 2,176 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 0.5%

NYSE:MKC opened at $46.26 on Friday. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $78.16. The firm has a 50 day moving average of $52.74 and a 200 day moving average of $61.76. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 2.27 and a beta of 0.68.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 4.2%. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

Insider Buying and Selling

In other news, Director Gavin Hattersley bought 2,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MKC shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. HSBC lowered their price target on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. BTIG Research started coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating for the company. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Finally, Zacks Research raised shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.27.

McCormick & Company, Incorporated Profile

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.