Motley Fool Asset Management LLC Acquires 12,350 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Motley Fool Asset Management LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 283.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,708 shares of the company’s stock after buying an additional 12,350 shares during the period. Motley Fool Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,283,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in McCormick & Company, Incorporated by 64.6% during the third quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after buying an additional 42,625 shares during the period. Cullen Investment Group LTD. bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $5,728,000. International Assets Investment Management LLC lifted its stake in 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 purchasing an additional 114,572 shares during the last quarter. abrdn plc lifted its stake in 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 purchasing an additional 71,133 shares during the last quarter. Finally, Jacobs & Co. CA lifted its stake in 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 purchasing an additional 16,098 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The disclosure for this sale can be found here. Insiders have sold a total of 109,458 shares of company stock worth $8,110,714 in the last 90 days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.5 %

Shares of MKC traded up $1.13 during trading hours on Wednesday, hitting $74.45. The company had a trading volume of 2,928,894 shares, compared to its average volume of 2,012,541. The firm has a market cap of $20.00 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.75 and a beta of 0.75. The stock’s 50 day moving average price is $71.07 and its 200 day moving average price is $70.42. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $0.60 EPS. McCormick & Company, Incorporated’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a yield of 2.26%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MKC shares. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Barclays lifted their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Tuesday, April 2nd. Finally, Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.25.

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.