Mawer Investment Management Ltd. Has $27.25 Million Stake in McCormick & Company, Incorporated $MKC

Mawer Investment Management Ltd. trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 16.1% in the fourth quarter, Holdings Channel reports. The fund owned 400,074 shares of the company’s stock after selling 76,805 shares during the period. Mawer Investment Management Ltd.’s holdings in McCormick & Company, Incorporated were worth $27,249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $28,000. SouthState Bank Corp grew its stake in McCormick & Company, Incorporated by 1,777.8% in the third quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares during the period. Legacy Wealth Managment LLC ID acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $40,000. Elyxium Wealth LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $43,000. Finally, Rothschild Investment LLC boosted its position in shares of McCormick & Company, Incorporated by 114.0% during the third quarter. Rothschild Investment LLC now owns 762 shares of the company’s stock worth $51,000 after buying an additional 406 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

MKC opened at $46.54 on Tuesday. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.16. The firm has a market capitalization of $12.51 billion, a PE ratio of 7.63, a PEG ratio of 2.32 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. The business’s 50-day simple moving average is $49.97 and its 200 day simple moving average is $60.38.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced 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. This represents a $1.92 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

Analyst Ratings Changes

MKC has been the subject of several recent research reports. BNP Paribas Exane reduced their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. UBS Group reduced their price objective on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Jefferies Financial Group reduced their price objective on McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. TD Cowen reduced their price objective on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Barclays reduced their price objective on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $64.27.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The transaction was disclosed in a filing with the SEC, 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.