Havemeyer Place LP Acquires Shares of 15,924 McCormick & Company, Incorporated $MKC

Havemeyer Place LP acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,924 shares of the company’s stock, valued at approximately $1,085,000.

Other institutional investors also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $28,000. Deseret Mutual Benefit Administrators boosted its holdings in McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. SouthState Bank Corp boosted its holdings in McCormick & Company, Incorporated by 1,777.8% during the third quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares in the last quarter. Legacy Wealth Managment LLC ID acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $43,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $47.31 on Monday. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $78.16. The firm has a 50 day moving average of $49.48 and a 200-day moving average of $59.85. 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 $12.71 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given a $0.48 dividend. 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 payout ratio is 31.48%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HSBC decreased their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. UBS Group cut their target price on shares of McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Sanford C. Bernstein cut their target price on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Finally, Jefferies Financial Group cut their target price on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $63.36.

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.