McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 25.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 156,987 shares of the company’s stock after acquiring an additional 31,691 shares during the period. Handelsbanken Fonder AB’s holdings in McCormick & Company, Incorporated were worth $10,741,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in shares of McCormick & Company, Incorporated by 64.6% during the third quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock worth $8,216,000 after acquiring an additional 42,625 shares during the last quarter. Cullen Investment Group LTD. bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $5,728,000. International Assets Investment Management LLC grew its position in shares of McCormick & Company, Incorporated by 7,344.4% during the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after acquiring an additional 114,572 shares during the last quarter. abrdn plc grew its position in shares of McCormick & Company, Incorporated by 19.1% during the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after acquiring an additional 71,133 shares during the last quarter. Finally, Jacobs & Co. CA grew its position in shares of McCormick & Company, Incorporated by 12.7% during the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock worth $9,780,000 after acquiring an additional 16,098 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $75.85 on Thursday. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.85 and a beta of 0.74. The firm has a 50-day moving average of $71.22 and a two-hundred day moving average of $67.69.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MKC. JPMorgan Chase & Co. lowered their price target on shares of 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. Citigroup increased their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, April 2nd. Finally, Barclays increased their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.88.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the sale, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,726 shares of company stock valued at $2,504,728. 22.90% of the stock is currently owned by corporate insiders.

About McCormick & Company, Incorporated

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.