McCormick & Company, Incorporated $MKC Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards cut its stake in McCormick by 5.7% to 648,868 shares (≈$44.2M) in Q4, while insiders sold 65,000 shares totaling about $4.58M last quarter; institutional investors now own roughly 79.7% of the stock.
• Q4 results beat expectations: McCormick reported $0.66 EPS vs. $0.61 expected and $1.87B revenue (up 16.7% year-over-year), while analysts maintain a consensus "Hold" with a $64.27 price target.
• Dividend and valuation: the company pays a $0.48 quarterly dividend (annualized $1.92) for a 3.8% yield; shares opened recently at $50.25, with a P/E of 8.24 and a market cap of about $13.5B (52‑week range $47.52–$78.16).

Benjamin Edwards Inc. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 648,868 shares of the company's stock after selling 39,164 shares during the quarter. Benjamin Edwards Inc. owned about 0.24% of McCormick & Company, Incorporated worth $44,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 purchasing an additional 314,252 shares during the period. State Street Corp lifted its position in McCormick & Company, Incorporated by 5.1% during the third quarter. State Street Corp now owns 15,522,816 shares of the company's stock valued at $1,038,632,000 after purchasing an additional 747,844 shares during the period. Invesco Ltd. lifted its position in McCormick & Company, Incorporated by 66.7% during the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company's stock valued at $417,006,000 after purchasing an additional 2,494,544 shares during the period. Wellington Management Group LLP lifted its position in McCormick & Company, Incorporated by 67.2% during the third quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company's stock valued at $187,183,000 after purchasing an additional 1,124,003 shares during the period. Finally, ProShare Advisors LLC lifted its position in McCormick & Company, Incorporated by 13.1% during the third quarter. ProShare Advisors LLC now owns 2,389,571 shares of the company's stock valued at $159,886,000 after purchasing an additional 277,257 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $67.92, for a total value of $339,600.00. Following the completion of the sale, the director owned 43,029 shares of the company's stock, valued at approximately $2,922,529.68. The trade was a 10.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $71.63, for a total transaction of $3,581,500.00. Following the completion of the sale, the insider directly owned 296,992 shares of the company's stock, valued at approximately $21,273,536.96. The trade was a 14.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,000 shares of company stock worth $4,575,800 in the last quarter. 10.60% of the stock is owned by insiders.

McCormick & Company, Incorporated Trading Down 1.2%

Shares of McCormick & Company, Incorporated stock opened at $50.25 on Friday. The firm has a 50-day simple moving average of $56.64 and a two-hundred day simple moving average of $63.00. The company has a market cap of $13.50 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.68. McCormick & Company, Incorporated has a fifty-two week low of $47.52 and a fifty-two 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.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.05. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company's revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated's payout ratio is presently 31.48%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MKC shares. Stifel Nicolaus decreased 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 report on Wednesday, April 1st. Sanford C. Bernstein decreased their target price on shares of 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. BNP Paribas Exane decreased their target price on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, April 1st. BTIG Research started coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a "neutral" rating for the company. Finally, TD Cowen decreased their target price on shares of 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. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus price target of $64.27.

McCormick & Company, Incorporated 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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