McCormick & Company, Incorporated $MKC Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 59.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,630 shares of the company’s stock after purchasing an additional 24,042 shares during the period. CIBC Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $4,402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $28,000. SouthState Bank Corp raised its holdings in shares of McCormick & Company, Incorporated by 1,777.8% during 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 period. Legacy Wealth Managment LLC ID acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $40,000. Elyxium Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $43,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth $56,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the transaction, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This represents a 220.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.60% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 1.5%

McCormick & Company, Incorporated stock opened at $47.31 on Friday. The company has a 50-day simple moving average of $49.48 and a 200-day simple moving average of $59.88. The firm has a market capitalization of $12.71 billion, a P/E ratio of 7.75, a P/E/G ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16.

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

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analyst Weigh In

MKC has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Sanford C. Bernstein lowered their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. UBS Group lowered their price target on shares of McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, BTIG Research assumed coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a “neutral” rating for the company. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.36.

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.