Handelsbanken Fonder AB Buys 31,691 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Handelsbanken Fonder AB grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,987 shares of the company’s stock after buying an additional 31,691 shares during the quarter. Handelsbanken Fonder AB owned 0.06% of McCormick & Company, Incorporated worth $10,741,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MKC. abrdn plc raised its position in McCormick & Company, Incorporated by 19.1% in the 4th quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after purchasing an additional 71,133 shares during the period. Hunter Associates Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $649,000. Kornitzer Capital Management Inc. KS raised its position in McCormick & Company, Incorporated by 3.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company’s stock worth $425,000 after purchasing an additional 195 shares during the period. KFG Wealth Management LLC raised its position in McCormick & Company, Incorporated by 3.1% in the 4th quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after purchasing an additional 158 shares during the period. Finally, Beaumont Financial Advisors LLC raised its position in McCormick & Company, Incorporated by 4.5% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after purchasing an additional 159 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 1.1 %

NYSE:MKC opened at $75.85 on Thursday. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The firm has a fifty day simple moving average of $71.22 and a 200-day simple moving average of $67.69. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $20.36 billion, a P/E ratio of 28.95, a PEG ratio of 3.85 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MKC shares. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Tuesday, April 2nd. Citigroup raised their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.88.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,726 shares of company stock valued at $2,504,728. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.