Mengis Capital Management Inc. Purchases 52,055 Shares of McCormick & Company, Incorporated $MKC

Mengis Capital Management Inc. increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 467.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,200 shares of the company’s stock after buying an additional 52,055 shares during the quarter. Mengis Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $4,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Aristotle Capital Management LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $259,918,000. Invesco Ltd. grew its stake in shares of McCormick & Company, Incorporated by 66.7% in the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock worth $417,006,000 after purchasing an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of McCormick & Company, Incorporated by 67.2% in the third quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock worth $187,183,000 after purchasing an additional 1,124,003 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $64,522,000. Finally, Norges Bank acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $62,711,000. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of several recent research reports. Stifel Nicolaus cut their target price on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Jefferies Financial Group lowered their price objective on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, June 4th. Sanford C. Bernstein cut their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Finally, BTIG Research began coverage on McCormick & Company, Incorporated in a report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.90.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was acquired 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 approximately $153,959.88. This trade represents a 220.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 10.60% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $46.59 on Friday. The company has a market capitalization of $12.52 billion, a PE ratio of 7.64, a P/E/G ratio of 2.30 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $78.16. The firm has a fifty day simple moving average of $48.92 and a 200 day simple moving average of $58.55.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly 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. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) 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.