McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 37.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,065 shares of the company’s stock after acquiring an additional 558 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in McCormick & Company, Incorporated were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of McCormick & Company, Incorporated by 64.6% in 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. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $5,728,000. International Assets Investment Management LLC boosted 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 buying an additional 114,572 shares during the last quarter. abrdn plc boosted 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 buying an additional 71,133 shares during the last quarter. Finally, Jacobs & Co. CA boosted 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 buying an additional 16,098 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $68.68 on Friday. 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 $18.43 billion, a PE ratio of 26.21, a P/E/G ratio of 3.58 and a beta of 0.74. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The business’s fifty day moving average price is $72.50 and its 200 day moving average price is $70.08.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.84 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the company’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 available at the SEC website. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,458 shares of company stock worth $8,286,114. 22.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MKC. Barclays boosted their price objective 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 boosted their price objective 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 objective on the stock in a research note on Tuesday, April 2nd. Finally, Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $78.00.

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.