SouthState Corp Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

SouthState Corp lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 47.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,062 shares of the company’s stock after selling 956 shares during the period. SouthState Corp’s holdings in McCormick & Company, Incorporated were worth $86,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eubel Brady & Suttman Asset Management Inc. bought a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $36,000. Moors & Cabot Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 1,586.3% during the 3rd quarter. Moors & Cabot Inc. now owns 50,000 shares of the company’s stock valued at $51,000 after purchasing an additional 47,035 shares during the last quarter. Costello Asset Management INC lifted its holdings in shares of McCormick & Company, Incorporated by 41.7% during the 3rd quarter. Costello Asset Management INC now owns 680 shares of the company’s stock valued at $55,000 after purchasing an additional 200 shares during the last quarter. Berman Capital Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 47.3% in the 3rd quarter. Berman Capital Advisors LLC now owns 751 shares of the company’s stock valued at $60,000 after acquiring an additional 241 shares during the period. Finally, Destiny Wealth Partners LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $64,000. Institutional investors own 75.07% of the company’s stock.

A number of research analysts recently weighed in on the stock. TheStreet raised shares of McCormick & Company, Incorporated from a “c+” rating to a “b” rating in a research note on Tuesday, November 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $91.00 to $89.00 and set a “hold” rating for the company in a report on Friday, October 1st. Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating and set a $99.00 price target for the company in a research note on Tuesday, December 14th. Finally, Credit Suisse Group decreased their price objective on shares of McCormick & Company, Incorporated from $100.00 to $98.00 and set an “outperform” rating for the company in a research report on Friday, October 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $93.75.

Shares of MKC stock opened at $96.35 on Friday. The firm has a market cap of $25.76 billion, a P/E ratio of 34.29, a P/E/G ratio of 4.87 and a beta of 0.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.30. McCormick & Company, Incorporated has a 1-year low of $77.85 and a 1-year high of $98.80. The firm has a fifty day moving average of $89.99 and a two-hundred day moving average of $86.35.

The business also recently declared a quarterly dividend, which was paid on Monday, January 10th. Shareholders of record on Friday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.54%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, December 30th. McCormick & Company, Incorporated’s payout ratio is 52.67%.

In other news, Director Maritza Gomez Montiel sold 394 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, October 28th. The shares were sold at an average price of $80.84, for a total value of $31,850.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.90% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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