Hemenway Trust Co LLC Raises Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Hemenway Trust Co LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 53.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,891 shares of the company's stock after purchasing an additional 74,529 shares during the period. McCormick & Company, Incorporated comprises approximately 1.3% of Hemenway Trust Co LLC's investment portfolio, making the stock its 28th biggest holding. Hemenway Trust Co LLC owned approximately 0.08% of McCormick & Company, Incorporated worth $16,383,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MKC. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $30,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Lee Danner & Bass Inc. purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares of the company's stock, valued at approximately $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

A number of analysts have commented on MKC shares. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Finally, Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded down $0.13 during mid-day trading on Thursday, hitting $75.77. 981,479 shares of the company's stock were exchanged, compared to its average volume of 1,939,233. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The business's 50 day moving average is $79.60 and its two-hundred day moving average is $78.43. The firm has a market capitalization of $20.32 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.38%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.