344,821 Shares in McCormick & Company, Incorporated $MKC Bought by Life Cycle Investment Partners Ltd

Key Points

• Life Cycle Investment Partners Ltd disclosed a new stake in McCormick & Company, buying 344,821 shares valued at about $23.5 million. The position represented roughly 0.13% of the company at quarter-end.
• McCormick reported strong quarterly results, with EPS of $0.66 beating estimates and revenue of $1.87 billion topping forecasts. Revenue rose 16.7% year over year.
• The company paid a quarterly dividend of $0.48 per share, or $1.92 annually, for a yield of about 4.0%. Separately, director Gavin Hattersley bought 2,000 shares, while analysts currently have a consensus rating of Hold with an average price target of $64.27.

Life Cycle Investment Partners Ltd purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 344,821 shares of the company's stock, valued at approximately $23,486,000. Life Cycle Investment Partners Ltd owned 0.13% of McCormick & Company, Incorporated at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth $28,000. SouthState Bank Corp lifted its position in shares of McCormick & Company, Incorporated by 1,777.8% during the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company's stock valued at $34,000 after buying an additional 480 shares during the last quarter. Legacy Wealth Managment LLC ID purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $40,000. Elyxium Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $43,000. Finally, Rakuten Investment Management Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $47,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $47.82 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.16. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.34 and a beta of 0.68. The business's fifty day moving average is $51.10 and its 200 day moving average is $61.14.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company 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 EPS. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated's payout ratio is presently 31.48%.

Insider Activity

In related news, Director Gavin Hattersley acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.60% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of recent research reports. Barclays dropped their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, April 1st. TD Cowen dropped their price target on 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. BTIG Research initiated coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a "neutral" rating on the stock. Finally, Sanford C. Bernstein dropped their price target on McCormick & Company, Incorporated from $85.00 to $77.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $64.27.

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.

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