Signaturefd LLC Grows Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Posted by Defense World Staff on Apr 14th, 2023

Signaturefd LLC raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC – Get Rating) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,144 shares of the company’s stock after purchasing an additional 750 shares during the period. Signaturefd LLC’s holdings in McCormick & Company, Incorporated were worth $592,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State of Michigan Retirement System raised its position in McCormick & Company, Incorporated by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 68,110 shares of the company’s stock valued at $5,646,000 after purchasing an additional 300 shares in the last quarter. Baldwin Brothers LLC MA raised its position in McCormick & Company, Incorporated by 1,141.7% during the fourth quarter. Baldwin Brothers LLC MA now owns 46,477 shares of the company’s stock valued at $3,853,000 after purchasing an additional 42,734 shares in the last quarter. First Pacific Financial raised its position in McCormick & Company, Incorporated by 4.8% during the fourth quarter. First Pacific Financial now owns 13,250 shares of the company’s stock valued at $1,098,000 after purchasing an additional 611 shares in the last quarter. Bigelow Investment Advisors LLC raised its position in McCormick & Company, Incorporated by 2.3% during the fourth quarter. Bigelow Investment Advisors LLC now owns 7,214 shares of the company’s stock valued at $598,000 after purchasing an additional 164 shares in the last quarter. Finally, Tufton Capital Management raised its position in McCormick & Company, Incorporated by 4.8% during the fourth quarter. Tufton Capital Management now owns 10,302 shares of the company’s stock valued at $854,000 after purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of NYSE:MKC opened at $86.47 on Friday. McCormick & Company, Incorporated has a 1 year low of $70.60 and a 1 year high of $105.19. The company has a market cap of $23.19 billion, a PE ratio of 35.01, a P/E/G ratio of 4.73 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.73 and a quick ratio of 0.32. The stock’s 50-day moving average is $76.48 and its 200 day moving average is $78.86.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.34% and a net margin of 10.42%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $0.63 EPS. McCormick & Company, Incorporated’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.6 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Shareholders of record on Monday, April 10th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, April 6th. This represents a $1.56 annualized dividend and a yield of 1.80%. McCormick & Company, Incorporated’s payout ratio is 63.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MKC shares. StockNews.com started coverage on McCormick & Company, Incorporated in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Stifel Nicolaus started coverage on McCormick & Company, Incorporated in a report on Thursday. They issued a “hold” rating on the stock. Credit Suisse Group decreased their price objective on McCormick & Company, Incorporated from $75.00 to $72.00 in a report on Tuesday, March 21st. Bank of America lifted their price objective on McCormick & Company, Incorporated from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Wednesday, March 29th. Finally, Sanford C. Bernstein upgraded McCormick & Company, Incorporated from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Friday, January 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $79.89.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the director now directly owns 38,137 shares of the company’s stock, valued at approximately $2,860,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 19.00% of the company’s stock.

McCormick & Company, Incorporated Profile

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McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.