Sun. Sep 25th, 2022
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AIA Group Ltd bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 624 shares of the company’s stock, valued at approximately $62,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $257,713,000. Norges Bank bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $233,048,000. BlackRock Inc. grew its stake in shares of McCormick & Company, Incorporated by 4.7% in the fourth quarter. BlackRock Inc. now owns 20,370,004 shares of the company’s stock worth $1,967,945,000 after purchasing an additional 915,428 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of McCormick & Company, Incorporated in the first quarter worth $76,003,000. Finally, Select Equity Group L.P. grew its stake in shares of McCormick & Company, Incorporated by 647.2% in the fourth quarter. Select Equity Group L.P. now owns 819,818 shares of the company’s stock worth $79,203,000 after purchasing an additional 710,104 shares in the last quarter. 74.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. TheStreet cut McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th. Finally, Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $99.00.

McCormick & Company, Incorporated Trading Up 0.0 %

NYSE:MKC opened at $88.33 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.85. McCormick & Company, Incorporated has a 1-year low of $77.85 and a 1-year high of $107.35. The firm has a market capitalization of $23.70 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 5.50 and a beta of 0.50. The stock has a fifty day simple moving average of $85.60 and a 200 day simple moving average of $94.02.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.17). McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.69 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.02 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Monday, July 11th were given a $0.37 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.68%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 58.50%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 10,580 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total value of $893,375.20. Following the completion of the transaction, the director now owns 12,660 shares in the company, valued at approximately $1,069,010.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)



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