Goldman Sachs Group Inc. boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 60.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,659,766 shares of the company’s stock after purchasing an additional 628,390 shares during the period. Goldman Sachs Group Inc.’s holdings in McCormick & Company, Incorporated were worth $113,047,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock valued at $2,854,000 after purchasing an additional 925 shares during the period. Empowered Funds LLC grew its holdings in McCormick & Company, Incorporated by 19.0% during the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after purchasing an additional 941 shares during the period. Woodline Partners LP grew its holdings in McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after purchasing an additional 6,189 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $6,520,000. Finally, Daiwa Securities Group Inc. grew its holdings in McCormick & Company, Incorporated by 6.1% during the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after purchasing an additional 2,176 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.
Insider Buying and Selling at McCormick & Company, Incorporated
In related news, Director Gavin Hattersley purchased 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
McCormick & Company, Incorporated Stock Up 0.9%
McCormick & Company, Incorporated stock opened at $47.69 on Tuesday. The stock has a market capitalization of $12.81 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $78.16. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $49.40 and a 200-day moving average of $59.73.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last released its quarterly 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. 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%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio is 31.48%.
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.
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