Delaney Dennis R Acquires 10,860 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Delaney Dennis R lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 71.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,980 shares of the company’s stock after purchasing an additional 10,860 shares during the quarter. Delaney Dennis R’s holdings in McCormick & Company, Incorporated were worth $1,981,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MKC. Canada Post Corp Registered Pension Plan bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $2,614,000. XTX Topco Ltd bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $253,000. Reynders McVeigh Capital Management LLC boosted its stake in McCormick & Company, Incorporated by 11.6% in the 4th quarter. Reynders McVeigh Capital Management LLC now owns 371,047 shares of the company’s stock worth $28,289,000 after purchasing an additional 38,528 shares during the period. Savvy Advisors Inc. bought a new position in McCormick & Company, Incorporated during the 4th quarter worth about $466,000. Finally, Summit Investment Advisors Inc. raised its stake in shares of McCormick & Company, Incorporated by 0.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 43,011 shares of the company’s stock valued at $3,279,000 after purchasing an additional 328 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,842 shares of company stock valued at $6,478,332. Company insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $77.61 on Tuesday. The company has a market cap of $20.81 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The firm has a 50-day moving average of $79.54 and a 200-day moving average of $78.25. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.