Pictet Asset Management Holding SA Sells 50,896 Shares of McCormick & Company, Incorporated $MKC

Pictet Asset Management Holding SA lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,052,241 shares of the company’s stock after selling 50,896 shares during the period. Pictet Asset Management Holding SA’s holdings in McCormick & Company, Incorporated were worth $71,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of McCormick & Company, Incorporated by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company’s stock worth $2,225,828,000 after buying an additional 314,252 shares in the last quarter. Mattern Capital Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 18.9% in the fourth quarter. Mattern Capital Management LLC now owns 117,729 shares of the company’s stock worth $8,019,000 after buying an additional 18,732 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in McCormick & Company, Incorporated by 30.7% during the fourth quarter. Concurrent Investment Advisors LLC now owns 9,766 shares of the company’s stock valued at $665,000 after purchasing an additional 2,295 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its position in McCormick & Company, Incorporated by 24.3% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 49,607 shares of the company’s stock valued at $3,388,000 after purchasing an additional 9,711 shares during the period. Finally, Rockingstone Advisors LLC lifted its position in McCormick & Company, Incorporated by 20.3% during the fourth quarter. Rockingstone Advisors LLC now owns 29,752 shares of the company’s stock valued at $2,026,000 after purchasing an additional 5,025 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

MKC has been the topic of a number of research analyst reports. BTIG Research initiated coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a “neutral” rating on the stock. TD Cowen lowered their price objective on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. HSBC lowered their price objective on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Jefferies Financial Group lowered 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 research report on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $64.27.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $67.92, for a total transaction of $339,600.00. Following the sale, the director directly owned 43,029 shares in the company, valued at $2,922,529.68. This trade represents a 10.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gavin Hattersley acquired 2,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were purchased at an average price of $52.98 per share, for a total transaction 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 trade represents a 220.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 65,000 shares of company stock valued at $4,575,800 over the last 90 days. Company insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $51.09 on Wednesday. The stock has a market cap of $13.73 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 2.47 and a beta of 0.71. McCormick & Company, Incorporated has a 1 year low of $47.52 and a 1 year high of $78.16. The firm has a fifty day moving average price of $57.39 and a 200-day moving average price of $63.19. 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 announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 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.