Mengis Capital Management Inc. Has $4.30 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Mengis Capital Management Inc. raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 467.1% in the 4th quarter, HoldingsChannel reports. The firm owned 63,200 shares of the company’s stock after acquiring an additional 52,055 shares during the quarter. Mengis Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $4,305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bayban bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $54,000. Caitong International Asset Management Co. Ltd boosted its holdings in McCormick & Company, Incorporated by 1,429.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,004 shares of the company’s stock worth $136,000 after acquiring an additional 1,873 shares in the last quarter. BDFS Capital LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $576,000. DGS Capital Management LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $205,000. Finally, Pacer Advisors Inc. grew its stake in McCormick & Company, Incorporated by 44.2% in the fourth quarter. Pacer Advisors Inc. now owns 32,910 shares of the company’s stock valued at $2,242,000 after acquiring an additional 10,088 shares during the period. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MKC. TD Cowen lowered their target price 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. Zacks Research raised shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. BTIG Research began coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Sanford C. Bernstein lowered their price objective on shares of 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, Stifel Nicolaus lowered their price objective on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.90.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $46.59 on Friday. The company has a market capitalization of $12.52 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 2.30 and a beta of 0.65. 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 business has a 50-day simple moving average of $48.92 and a two-hundred day simple moving average of $58.55.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. Research analysts expect that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is 31.48%.

Insider Buying and Selling

In related news, Director Gavin Hattersley purchased 2,000 shares of the 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 transaction, the director owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Company 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.