Legal & General Group Plc Sells 46,707 Shares of McCormick & Company, Incorporated $MKC

Legal & General Group Plc cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,600,468 shares of the company’s stock after selling 46,707 shares during the period. Legal & General Group Plc’s holdings in McCormick & Company, Incorporated were worth $109,008,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $28,000. SouthState Bank Corp grew its holdings in McCormick & Company, Incorporated by 1,777.8% during the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares in the last quarter. Legacy Wealth Managment LLC ID bought a new position in McCormick & Company, Incorporated during the 4th quarter worth about $40,000. Elyxium Wealth LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter worth about $43,000. Finally, Rothschild Investment LLC grew its holdings in McCormick & Company, Incorporated by 114.0% during the 3rd quarter. Rothschild Investment LLC now owns 762 shares of the company’s stock worth $51,000 after acquiring an additional 406 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on MKC shares. HSBC dropped their target price on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Sanford C. Bernstein dropped their target price 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. BTIG Research started coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, April 14th. They set a “neutral” rating on the stock. Finally, Weiss Ratings reiterated 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 assigned a Hold rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and an average target price of $64.27.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $46.78 on Friday. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 2.33 and a beta of 0.68. The firm has a 50-day simple moving average of $50.27 and a two-hundred day simple moving average of $60.63. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16. 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 (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Insider Activity at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average cost of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This trade represents a 220.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.60% of the stock is owned by insiders.

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.