Deprince Race & Zollo Inc. Buys Shares of 161,477 McCormick & Company, Incorporated $MKC

Key Points

• Deprince Race & Zollo Inc. bought a new stake of 161,477 McCormick shares worth about $10.998 million, representing roughly 0.06% of the company.
• McCormick beat quarterly estimates with $0.66 EPS (vs. $0.61 expected) and $1.87 billion revenue (up 16.7% year‑over‑year), and announced a $0.48 quarterly dividend (annualized yield ~3.5%).
• Analysts have trimmed price targets recently and the stock has an average consensus rating of "Hold" with a consensus target price of $64.27.

Deprince Race & Zollo Inc. bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 161,477 shares of the company's stock, valued at approximately $10,998,000. Deprince Race & Zollo Inc. owned approximately 0.06% of McCormick & Company, Incorporated at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Heartwood Wealth Advisors LLC bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $28,000. GoalVest Advisory LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $28,000. SouthState Bank Corp boosted its position 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 acquiring an additional 480 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $37,000. Finally, Rakuten Investment Management Inc. bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $47,000. Institutional investors own 79.74% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MKC shares. Jefferies Financial Group dropped their target price on 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. Sanford C. Bernstein dropped their target price 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. Stifel Nicolaus decreased their price objective on McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday, April 1st. HSBC decreased their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating for the company in a report on Thursday, March 26th. Finally, BNP Paribas Exane decreased their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus target price of $64.27.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $54.15 on Tuesday. McCormick & Company, Incorporated has a 12 month low of $47.52 and a 12 month high of $78.16. The stock has a fifty day moving average price of $60.98 and a 200-day moving average price of $64.33. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a market cap of $14.55 billion, a PE ratio of 8.88, a P/E/G ratio of 2.63 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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. 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 during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Monday, April 20th will be paid a $0.48 dividend. The ex-dividend date is Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 3.5%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 31.48%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley bought 2,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director directly owned 2,906 shares of the company's stock, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $67.92, for a total value 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. Over the last 90 days, insiders have sold 65,000 shares of company stock worth $4,575,800. Insiders own 10.60% of the company's stock.

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.

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