Canada Post Corp Registered Pension Plan Sells 21,021 Shares of McCormick & Company, Incorporated $MKC

Canada Post Corp Registered Pension Plan lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 55.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,700 shares of the company’s stock after selling 21,021 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in McCormick & Company, Incorporated were worth $1,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. GoalVest Advisory LLC bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $28,000. SouthState Bank Corp increased its position in McCormick & Company, Incorporated by 1,777.8% in the third quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the last quarter. Legacy Wealth Managment LLC ID bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $40,000. Rakuten Investment Management Inc. bought a new stake in McCormick & Company, Incorporated in the third quarter worth $47,000. Finally, Rothschild Investment LLC increased its position in McCormick & Company, Incorporated by 114.0% in the third quarter. Rothschild Investment LLC now owns 762 shares of the company’s stock worth $51,000 after purchasing an additional 406 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.8%

MKC stock opened at $46.72 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $78.16. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. The firm’s fifty day simple moving average is $52.37 and its two-hundred day simple moving average is $61.59.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. As a group, analysts anticipate that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is 31.48%.

Insiders Place Their Bets

In other news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MKC. Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Jefferies Financial Group reduced their price target on shares of McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $64.27.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.