Generali Asset Management SPA SGR Has $2.15 Million Stock Position in McCormick & Company, Incorporated $MKC

Generali Asset Management SPA SGR boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 65.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,551 shares of the company’s stock after purchasing an additional 12,484 shares during the period. Generali Asset Management SPA SGR’s holdings in McCormick & Company, Incorporated were worth $2,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company’s stock valued at $2,225,828,000 after buying an additional 314,252 shares in the last quarter. State Street Corp lifted its position in shares of McCormick & Company, Incorporated by 5.1% in the third quarter. State Street Corp now owns 15,522,816 shares of the company’s stock worth $1,038,632,000 after buying an additional 747,844 shares during the last quarter. Invesco Ltd. lifted its position in shares of McCormick & Company, Incorporated by 66.7% in the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock worth $417,006,000 after buying an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of McCormick & Company, Incorporated by 67.2% in the third quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock worth $187,183,000 after buying an additional 1,124,003 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 13.1% in the third quarter. ProShare Advisors LLC now owns 2,389,571 shares of the company’s stock worth $159,886,000 after buying an additional 277,257 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the purchase, the director directly owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 completion of the transaction, the director owned 43,029 shares of the company’s stock, valued at $2,922,529.68. This trade represents a 10.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group reduced their price target on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Sanford C. Bernstein reduced their price target on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. TD Cowen reduced their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, BTIG Research assumed coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating for the company. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.27.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $48.29 on Friday. McCormick & Company, Incorporated has a 52-week low of $47.30 and a 52-week high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 2.37 and a beta of 0.68. The firm’s 50-day moving average is $55.38 and its 200-day moving average is $62.60.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a $0.48 dividend. 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 4.0%. McCormick & Company, Incorporated’s payout ratio is presently 31.48%.

McCormick & Company, Incorporated Company 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.