Franklin Resources Inc. cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,082,691 shares of the company’s stock after selling 47,143 shares during the period. Franklin Resources Inc. owned approximately 1.15% of McCormick & Company, Incorporated worth $209,962,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators raised its stake in McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares during the period. GoalVest Advisory LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $28,000. Legacy Wealth Managment LLC ID purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $40,000. Elyxium Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $43,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $56,000. 79.74% of the stock is owned by hedge funds and other institutional investors.
McCormick & Company, Incorporated Trading Up 2.2%
Shares of MKC stock opened at $48.65 on Wednesday. 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 stock has a market capitalization of $13.07 billion, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. The company has a 50 day moving average price of $49.31 and a 200 day moving average price of $59.60. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16.
McCormick & Company, Incorporated Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.9%. McCormick & Company, Incorporated’s payout ratio is 31.48%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on MKC. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group reduced their price target on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Barclays reduced their price target on shares of 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. Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Finally, BNP Paribas Exane reduced their price target on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $63.36.
Get Our Latest Stock Report on MKC
Insider Buying and Selling at McCormick & Company, Incorporated
In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the company’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 completion of the acquisition, the director owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.60% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than McCormick & Company, Incorporated
- The Bank of Mom and Dad Is Booming—3 Stocks to Watch
- Corning Is Paving AI’s Future With Glass
- Why’s Amazon Suddenly Lagging the S&P 500, and Is It a Warning?
- Crypto Winter Is Here: 3 Stocks To Put On Ice This Summer
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.
