McCormick & Company, Incorporated $MKC Holdings Lifted by Qsemble Capital Management LP

Qsemble Capital Management LP grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 88.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 41,789 shares of the company’s stock after buying an additional 19,644 shares during the period. Qsemble Capital Management LP’s holdings in McCormick & Company, Incorporated were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. GoalVest Advisory LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $28,000. SouthState Bank Corp boosted its holdings in shares of McCormick & Company, Incorporated by 1,777.8% in the third quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares in the last quarter. Legacy Wealth Managment LLC ID bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $40,000. Rakuten Investment Management Inc. bought a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $47,000. Finally, Rothschild Investment LLC boosted its holdings in shares of McCormick & Company, Incorporated by 114.0% in the third quarter. Rothschild Investment LLC now owns 762 shares of the company’s stock valued at $51,000 after acquiring an additional 406 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average cost of $52.98 per share, with a total value of $105,960.00. Following the completion of the purchase, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 10.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MKC. TD Cowen decreased 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. BNP Paribas Exane decreased 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. Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. BTIG Research began coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, April 14th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.27.

McCormick & Company, Incorporated Stock Down 0.5%

MKC stock opened at $46.26 on Friday. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.16. The firm has a market cap of $12.43 billion, a PE ratio of 7.58, a P/E/G ratio of 2.27 and a beta of 0.68. The firm has a 50 day simple moving average of $52.74 and a 200 day simple moving average of $61.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 31st. The company reported $0.66 EPS 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 business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.2%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.

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.