Ticino Wealth Makes New $729,000 Investment in McCormick & Company, Incorporated $MKC

Ticino Wealth acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,701 shares of the company’s stock, valued at approximately $729,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $28,000. SouthState Bank Corp grew its stake in shares of 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 purchasing an additional 480 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $37,000. Rakuten Investment Management Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $47,000. Finally, Rothschild Investment LLC boosted its holdings 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 buying an additional 406 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $67.92, for a total transaction of $339,600.00. Following the transaction, the director owned 43,029 shares of the company’s stock, valued at approximately $2,922,529.68. The trade was a 10.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $71.63, for a total transaction of $3,581,500.00. Following the completion of the transaction, the insider owned 296,992 shares in the company, valued at $21,273,536.96. The trade was a 14.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,000 shares of company stock valued at $4,575,800 over the last ninety days. 10.60% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Down 0.8%

Shares of MKC opened at $52.41 on Tuesday. McCormick & Company, Incorporated has a 52-week low of $47.52 and a 52-week high of $78.16. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average is $59.69 and its two-hundred day moving average is $63.85. The stock has a market cap of $14.08 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 2.66 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Research analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, April 20th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of analyst reports. TD Cowen dropped their target price on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Barclays reduced their price target on shares of 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. Jefferies Financial Group decreased their price target on shares of McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, BNP Paribas Exane lowered their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus target price of $64.27.

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.