Natural Investments LLC Invests $1.90 Million in McCormick & Company, Incorporated $MKC

Key Points

• Natural Investments LLC opened a new position in McCormick (NYSE:MKC) in Q4, purchasing 27,826 shares valued at approximately $1.90 million.
• Corporate insiders have sold 65,000 shares worth about $4.58 million in the last 90 days — including Jacques Tapiero (5,000 shares) and Lawrence Erik Kurzius (50,000 shares) — and now own 10.6% of the company.
• Analysts’ consensus is a "Hold" with a $64.27 target after several price-target cuts; McCormick recently beat quarterly EPS estimates ($0.66 vs. $0.61) and announced a $0.48 quarterly dividend (about a 3.5% yield).

Natural Investments LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,826 shares of the company's stock, valued at approximately $1,895,000.

A number of other large investors have also modified their holdings of MKC. Heartwood Wealth Advisors LLC purchased a new position in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $28,000. GoalVest Advisory LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $28,000. SouthState Bank Corp raised its holdings in McCormick & Company, Incorporated by 1,777.8% during the third quarter. SouthState Bank Corp now owns 507 shares of the company's stock worth $34,000 after purchasing an additional 480 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in McCormick & Company, Incorporated during the third quarter worth $37,000. Finally, Rakuten Investment Management Inc. acquired a new position in McCormick & Company, Incorporated during the third quarter worth $47,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $67.09, for a total value of $335,450.00. Following the completion of the transaction, the director owned 31,596 shares in the company, valued at $2,119,775.64. This represents a 13.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $71.63, for a total transaction of $3,581,500.00. Following the sale, the insider owned 296,992 shares in the company, valued at $21,273,536.96. This represents a 14.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 65,000 shares of company stock valued at $4,575,800. Corporate insiders own 10.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MKC. JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $67.00 to $64.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. BNP Paribas Exane reduced 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. HSBC reduced 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. Jefferies Financial Group reduced their price objective on McCormick & Company, Incorporated from $81.00 to $64.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Finally, Zacks Research raised McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.27.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $54.15 on Tuesday. McCormick & Company, Incorporated has a twelve month low of $47.52 and a twelve month high of $78.16. The stock has a market capitalization of $14.55 billion, a P/E ratio of 8.88, a PEG ratio of 2.63 and a beta of 0.71. 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 business's fifty day moving average price is $60.98 and its 200 day moving average price is $64.33.

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, 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 firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Stockholders 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 dividend yield of 3.5%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 31.48%.

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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