McCormick & Company, Incorporated $MKC Stock Holdings Raised by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in McCormick to 32,679,906 shares (about 12.18% of the company), adding 314,252 shares in Q4 for a holding valued at roughly $2.226 billion.
• McCormick beat Q1 estimates with earnings of $0.66 per share versus $0.61 expected and revenue of $1.87 billion (up 16.7% year‑over‑year).
• Analysts have trimmed price targets recently, leaving a consensus "Hold" rating and an average target of $64.27, while the stock trades near $50.48 with a P/E of 8.27 and a 3.8% dividend yield.

Vanguard Group Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,679,906 shares of the company's stock after purchasing an additional 314,252 shares during the quarter. Vanguard Group Inc. owned approximately 12.18% of McCormick & Company, Incorporated worth $2,225,828,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. GoalVest Advisory LLC bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at about $28,000. SouthState Bank Corp lifted 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 worth $34,000 after buying an additional 480 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $37,000. Rakuten Investment Management Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $47,000. Finally, Rothschild Investment LLC increased its holdings in shares of McCormick & Company, Incorporated by 114.0% in the 3rd quarter. Rothschild Investment LLC now owns 762 shares of the company's stock valued at $51,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Insider Activity

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $67.92, for a total transaction of $339,600.00. Following the completion of the transaction, the director directly owned 43,029 shares of the company's stock, valued at $2,922,529.68. The trade was a 10.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gavin Hattersley bought 2,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 65,000 shares of company stock valued at $4,575,800. 10.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Zacks Research raised McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Sanford C. Bernstein lowered 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 note on Tuesday, March 24th. UBS Group dropped their target price on shares of McCormick & Company, Incorporated from $67.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, March 20th. Barclays reduced their price target on shares of 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. Finally, HSBC decreased their price target on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating for the company in a report on Thursday, March 26th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $64.27.

McCormick & Company, Incorporated Trading Down 1.3%

NYSE:MKC opened at $50.48 on Thursday. The firm has a market capitalization of $13.56 billion, a P/E ratio of 8.27, a P/E/G ratio of 2.47 and a beta of 0.71. The business has a 50 day simple moving average of $57.00 and a 200 day simple moving average of $63.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. McCormick & Company, Incorporated has a 12-month low of $47.52 and a 12-month 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. 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 for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the company earned $0.60 earnings per share. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 3.8%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 31.48%.

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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