ABN Amro Investment Solutions purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 57,774 shares of the company's stock, valued at approximately $3,935,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GoalVest Advisory LLC bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth $28,000. SouthState Bank Corp raised its holdings in 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 bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $40,000. Elyxium Wealth LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth $43,000. Finally, Rakuten Investment Management Inc. bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 79.74% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on MKC. Sanford C. Bernstein dropped their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an "outperform" rating on the stock in a report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating for the company in a report on Monday, March 30th. BNP Paribas Exane dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Stifel Nicolaus lowered their target price on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Finally, BTIG Research began coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, April 14th. They issued a "neutral" rating for the company. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $64.27.
Check Out Our Latest Research Report on MKC
McCormick & Company, Incorporated Stock Performance
Shares of MKC opened at $47.82 on Friday. The stock has a 50-day simple moving average of $51.10 and a 200-day simple moving average of $61.14. 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 stock has a market capitalization of $12.85 billion, a PE ratio of 7.84, a PEG ratio of 2.30 and a beta of 0.68. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $78.16.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. On average, analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated's dividend payout ratio is currently 31.48%.
Insider Activity
In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares of the company's stock, valued at $153,959.88. This represents a 220.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.60% of the stock is owned by corporate insiders.
About McCormick & Company, Incorporated
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKC - Free Report).
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