Life Cycle Investment Partners Ltd purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 344,821 shares of the company’s stock, valued at approximately $23,486,000. Life Cycle Investment Partners Ltd owned 0.13% of McCormick & Company, Incorporated at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth $28,000. SouthState Bank Corp lifted 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 valued at $34,000 after buying an additional 480 shares during the last quarter. Legacy Wealth Managment LLC ID purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $40,000. Elyxium Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $43,000. Finally, Rakuten Investment Management Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $47,000. 79.74% of the stock is currently owned by institutional investors.
McCormick & Company, Incorporated Stock Performance
NYSE:MKC opened at $47.82 on Friday. 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 52-week low of $44.82 and a 52-week high of $78.16. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.34 and a beta of 0.68. The business’s fifty day moving average is $51.10 and its 200 day moving average is $61.14.
McCormick & Company, Incorporated Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is presently 31.48%.
Insider Activity
In related news, Director Gavin Hattersley acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.60% of the company’s stock.
Wall Street Analysts Forecast Growth
MKC has been the topic of a number of recent research reports. Barclays dropped their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. BTIG Research initiated coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a “neutral” rating on the stock. Finally, Sanford C. Bernstein dropped their price target on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.27.
Read Our Latest Research Report on MKC
About McCormick & Company, Incorporated
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.
See Also
- Five stocks we like better than McCormick & Company, Incorporated
- Workday Validates AI Flywheel: Stock Price Recovery Begins
- HubSpot at 2019 Levels Is an Opportunity—Not a Warning
- Was Decker’s Double Beat a Bullish Signal—Or Mere HOKA’s-Pocus?
- Kiniksa Pharmaceuticals Still Has Room to Run After 100% Rally
Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
