McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Natixis

Natixis increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 23.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,166 shares of the company’s stock after acquiring an additional 5,618 shares during the period. Natixis’ holdings in McCormick & Company, Incorporated were worth $2,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Investment Group LTD. bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at approximately $5,728,000. International Assets Investment Management LLC increased its position in shares of McCormick & Company, Incorporated by 7,344.4% in the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock valued at $7,946,000 after acquiring an additional 114,572 shares during the last quarter. abrdn plc increased its position in shares of McCormick & Company, Incorporated by 19.1% in the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock valued at $30,333,000 after acquiring an additional 71,133 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after acquiring an additional 7,898 shares during the last quarter. Finally, Trexquant Investment LP increased its position in shares of McCormick & Company, Incorporated by 374.3% in the fourth quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock valued at $7,948,000 after acquiring an additional 91,676 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,732 shares of company stock valued at $7,982,386. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $0.52 during mid-day trading on Thursday, reaching $74.75. 1,785,166 shares of the stock traded hands, compared to its average volume of 1,997,263. The firm has a fifty day moving average price of $70.91 and a 200 day moving average price of $70.64. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $90.45. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The company has a market cap of $20.08 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 3.81 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, topping 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 firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.60 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.25%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MKC shares. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, April 2nd. TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Barclays upped their target price 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. Finally, Stifel Nicolaus upped their target price 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Company 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.