Life Cycle Investment Partners Ltd Makes New Investment in McCormick & Company, Incorporated $MKC

Life Cycle Investment Partners Ltd bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 344,821 shares of the company’s stock, valued at approximately $23,486,000.

Other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $28,000. SouthState Bank Corp increased its stake in McCormick & Company, Incorporated by 1,777.8% in the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares during the last quarter. Legacy Wealth Managment LLC ID bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $40,000. Elyxium Wealth LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $43,000. Finally, Rakuten Investment Management Inc. bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth about $47,000. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. BNP Paribas Exane cut their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. BTIG Research initiated coverage on McCormick & Company, Incorporated in a report on Tuesday, April 14th. They issued a “neutral” rating for the company. Sanford C. Bernstein cut their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. Finally, Stifel Nicolaus cut their price objective on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.27.

Insiders Place Their Bets

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 stock was bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a legal 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 Price Performance

MKC opened at $47.82 on Friday. The stock has a 50-day moving average price of $51.10 and a 200-day moving average price of $61.14. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $78.16. 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 stock has a market capitalization of $12.85 billion, a P/E ratio of 7.84, a PEG ratio of 2.34 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. Equities analysts predict 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 was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.

McCormick & Company, Incorporated 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.