The Manufacturers Life Insurance Company Purchases 184,027 Shares of McCormick & Company, Incorporated (MKC)

The Manufacturers Life Insurance Company grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 36.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 691,003 shares of the company’s stock after acquiring an additional 184,027 shares during the quarter. The Manufacturers Life Insurance Company owned 0.53% of McCormick & Company, Incorporated worth $70,419,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in McCormick & Company, Incorporated by 24.3% during the 2nd quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock worth $3,838,000 after acquiring an additional 7,684 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of McCormick & Company, Incorporated by 81.9% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock worth $167,208,000 after purchasing an additional 733,375 shares in the last quarter. Twin Capital Management Inc. bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $930,000. Oppenheimer & Co. Inc. raised its stake in shares of McCormick & Company, Incorporated by 4.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 41,323 shares of the company’s stock worth $4,241,000 after purchasing an additional 1,698 shares in the last quarter. Finally, Bath Savings Trust Co raised its stake in shares of McCormick & Company, Incorporated by 4.2% during the 4th quarter. Bath Savings Trust Co now owns 92,744 shares of the company’s stock worth $9,452,000 after purchasing an additional 3,740 shares in the last quarter. 76.16% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Patricia A. Little sold 6,250 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $108.63, for a total value of $678,937.50. Following the sale, the director now owns 15,497 shares in the company, valued at approximately $1,683,439.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael R. Smith sold 2,575 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $107.96, for a total value of $277,997.00. Following the completion of the sale, the vice president now owns 17,312 shares in the company, valued at approximately $1,869,003.52. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by corporate insiders.

Shares of McCormick & Company, Incorporated (MKC) opened at $105.50 on Friday. McCormick & Company, Incorporated has a 12 month low of $90.25 and a 12 month high of $109.67. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $13,831.58, a price-to-earnings ratio of 28.51, a P/E/G ratio of 2.31 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, January 25th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. McCormick & Company, Incorporated had a return on equity of 25.30% and a net margin of 9.88%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.27 EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. equities analysts expect that McCormick & Company, Incorporated will post 4.88 earnings per share for the current year.

MKC has been the topic of a number of analyst reports. Zacks Investment Research cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Deutsche Bank cut McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $103.00 to $98.00 in a research note on Friday, January 19th. Credit Suisse Group set a $115.00 price objective on McCormick & Company, Incorporated and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Jefferies Group set a $120.00 price objective on McCormick & Company, Incorporated and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, UBS Group upped their price objective on McCormick & Company, Incorporated from $100.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $107.67.

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McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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