McCormick & Company, Incorporated $MKC Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 648,868 shares of the company’s stock after selling 39,164 shares during the period. Benjamin Edwards Inc.’s holdings in McCormick & Company, Incorporated were worth $44,195,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $28,000. SouthState Bank Corp raised its position in shares of McCormick & Company, Incorporated by 1,777.8% during the 3rd 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. Steigerwald Gordon & Koch Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $37,000. Rakuten Investment Management Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $47,000. Finally, Rothschild Investment LLC raised its position in shares of McCormick & Company, Incorporated by 114.0% during the 3rd 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 and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $71.63, for a total value of $3,581,500.00. Following the completion of the sale, the insider owned 296,992 shares in the company, valued at approximately $21,273,536.96. This trade represents a 14.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gavin Hattersley bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the acquisition, the director directly owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 65,000 shares of company stock worth $4,575,800 over the last quarter. Company insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $50.25 on Friday. McCormick & Company, Incorporated has a 52 week low of $47.52 and a 52 week high of $78.16. The business’s fifty day simple moving average is $56.64 and its 200-day simple moving average is $63.00. The firm has a market cap of $13.50 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.68. 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 (NYSE:MKC) last posted its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts forecast 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 issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 31.48%.

Analyst Ratings Changes

A number of research firms have commented on MKC. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. BNP Paribas Exane cut their price objective on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Stifel Nicolaus cut their price objective on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Finally, TD Cowen cut their price objective on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $64.27.

McCormick & Company, Incorporated 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.