Intech Investment Management LLC Sells 96,969 Shares of McCormick & Company, Incorporated $MKC

Intech Investment Management LLC decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 78.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,938 shares of the company’s stock after selling 96,969 shares during the quarter. Intech Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,767,000 at the end of the most recent reporting period.

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 fourth quarter worth about $28,000. SouthState Bank Corp lifted its position in McCormick & Company, Incorporated by 1,777.8% during the third quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the period. Legacy Wealth Managment LLC ID bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $40,000. Elyxium Wealth LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $43,000. Finally, Rothschild Investment LLC lifted its position in 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 purchasing an additional 406 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, Director Gavin Hattersley acquired 2,000 shares of the stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the purchase, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.60% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 0.8%

Shares of NYSE MKC opened at $46.64 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 2.27 and a beta of 0.65. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.16. The stock has a 50-day moving average price of $49.58 and a two-hundred day moving average price of $59.97.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MKC. Sanford C. Bernstein cut their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. BNP Paribas Exane lowered their target price on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group lowered their target price on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday. Barclays lowered their target price on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Finally, Stifel Nicolaus lowered their target price on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus target price of $63.36.

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.