10,701 Shares in McCormick & Company, Incorporated $MKC Purchased by Ticino Wealth

Ticino Wealth acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,701 shares of the company’s stock, valued at approximately $729,000.

A number of other hedge funds have also added to or reduced their stakes in MKC. Evergreen Capital Management LLC bought a new position in McCormick & Company, Incorporated in the fourth quarter worth approximately $222,000. Asset Management One Co. Ltd. increased its stake in shares of McCormick & Company, Incorporated by 3.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 155,628 shares of the company’s stock valued at $10,758,000 after buying an additional 5,677 shares during the period. Merit Financial Group LLC raised its holdings in shares of McCormick & Company, Incorporated by 12.7% in the fourth quarter. Merit Financial Group LLC now owns 9,196 shares of the company’s stock valued at $626,000 after acquiring an additional 1,033 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in McCormick & Company, Incorporated by 17.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,254 shares of the company’s stock worth $4,172,000 after acquiring an additional 9,133 shares during the period. Finally, Nicholson Wealth Management Group LLC increased its position in McCormick & Company, Incorporated by 24.2% during the 4th quarter. Nicholson Wealth Management Group LLC now owns 26,995 shares of the company’s stock valued at $1,839,000 after purchasing an additional 5,255 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MKC shares. UBS Group reduced their price objective on shares of McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. TD Cowen decreased their price objective on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Barclays cut their target price on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Finally, HSBC reduced their target price on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $64.27.

Insider Transactions at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $71.63, for a total value of $3,581,500.00. Following the transaction, the insider directly owned 296,992 shares of the company’s stock, valued at approximately $21,273,536.96. This represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $67.92, for a total value of $339,600.00. Following the completion of the sale, the director owned 43,029 shares in the company, valued at approximately $2,922,529.68. This represents a 10.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,000 shares of company stock worth $4,575,800 in the last 90 days. 10.60% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $52.41 on Tuesday. McCormick & Company, Incorporated has a fifty-two week low of $47.52 and a fifty-two week high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 2.66 and a beta of 0.71. The stock’s 50-day simple moving average is $59.69 and its 200-day simple moving average is $63.85.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Monday, April 20th will be paid a $0.48 dividend. The ex-dividend date is Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 3.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 31.48%.

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.