15,924 Shares in McCormick & Company, Incorporated $MKC Acquired by Havemeyer Place LP

Havemeyer Place LP acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,924 shares of the company’s stock, valued at approximately $1,085,000.

Other institutional investors have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators raised its position in McCormick & Company, Incorporated by 67.8% in the 4th 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 last quarter. GoalVest Advisory LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $28,000. SouthState Bank Corp raised its position in McCormick & Company, Incorporated by 1,777.8% in the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the last quarter. Legacy Wealth Managment LLC ID bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $40,000. Finally, Elyxium Wealth LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $43,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $47.31 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $78.16. The stock has a market cap of $12.71 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. The stock’s 50-day moving average price is $49.48 and its two-hundred day moving average price is $59.85.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given 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 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley acquired 2,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the transaction, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. This represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 10.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MKC. JPMorgan Chase & Co. reduced their price target 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. UBS Group reduced their price target on McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Stifel Nicolaus reduced 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. Sanford C. Bernstein reduced their target price on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.36.

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.