abrdn plc Purchases 71,133 Shares of McCormick & Company, Incorporated (NYSE:MKC)

abrdn plc boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,332 shares of the company's stock after buying an additional 71,133 shares during the period. abrdn plc owned 0.17% of McCormick & Company, Incorporated worth $30,333,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MKC. Legacy Financial Group LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $29,000. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $36,000. Milestone Investment Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $47,000. Valley National Advisers Inc. grew its position in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company's stock valued at $53,000 after purchasing an additional 582 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company's stock valued at $53,000 after purchasing an additional 290 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MKC. Barclays upped their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an "equal weight" rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating for the company in a research report on Friday, January 26th. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, March 27th. Consumer Edge lowered McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a research report on Monday, January 22nd. Finally, Argus upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $77.88.

McCormick & Company, Incorporated Trading Up 0.4 %

MKC traded up $0.33 during trading hours on Tuesday, reaching $75.02. The company's stock had a trading volume of 1,701,056 shares, compared to its average volume of 2,070,717. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The stock has a market cap of $20.14 billion, a PE ratio of 28.51, a P/E/G ratio of 3.79 and a beta of 0.74. The business's 50-day moving average is $70.80 and its 200-day moving average is $67.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm's quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated's payout ratio is currently 64.12%.

Insider Activity

In other news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at $430,738. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock worth $2,504,728. Corporate insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.