Reynders McVeigh Capital Management LLC Has $25.34 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Reynders McVeigh Capital Management LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 372,071 shares of the company's stock after selling 38,391 shares during the period. McCormick & Company, Incorporated accounts for about 1.2% of Reynders McVeigh Capital Management LLC's investment portfolio, making the stock its 26th biggest holding. Reynders McVeigh Capital Management LLC owned 0.14% of McCormick & Company, Incorporated worth $25,342,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MKC. GoalVest Advisory LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $28,000. SouthState Bank Corp lifted its position in shares of McCormick & Company, Incorporated by 1,777.8% in the third 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. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $37,000. Rakuten Investment Management Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $47,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $56,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MKC shares. TD Cowen cut their price objective on 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. Deutsche Bank Aktiengesellschaft cut their price objective on McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, March 30th. Stifel Nicolaus cut their price objective on 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. Zacks Research raised McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, UBS Group cut their price objective on McCormick & Company, Incorporated from $67.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday, March 20th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $64.27.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $50.25 on Monday. The stock has a market cap of $13.50 billion, a P/E ratio of 8.24, a PEG ratio of 2.46 and a beta of 0.68. The stock has a 50 day simple moving average of $56.64 and a 200 day simple moving average of $62.98. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 1-year low of $47.52 and a 1-year high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. Research analysts anticipate that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a dividend of $0.48 per share. 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 dividend payout ratio (DPR) is presently 31.48%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $67.92, for a total transaction of $339,600.00. Following the completion of the sale, the director directly owned 43,029 shares of the company's stock, valued at approximately $2,922,529.68. This trade represents a 10.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated 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 sale, the director directly owned 31,596 shares of the company's stock, valued at approximately $2,119,775.64. The trade was a 13.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 65,000 shares of company stock valued at $4,575,800. 10.60% of the stock is currently owned by company insiders.

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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