abrdn plc Decreases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

abrdn plc lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 492,224 shares of the company's stock after selling 5,450 shares during the period. abrdn plc owned approximately 0.18% of McCormick & Company, Incorporated worth $37,399,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Czech National Bank increased its stake in McCormick & Company, Incorporated by 7.0% during the 3rd quarter. Czech National Bank now owns 51,338 shares of the company's stock valued at $4,225,000 after purchasing an additional 3,366 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $227,000. Rockingstone Advisors LLC raised its stake in McCormick & Company, Incorporated by 2.3% in the 3rd quarter. Rockingstone Advisors LLC now owns 31,975 shares of the company's stock worth $2,632,000 after acquiring an additional 705 shares during the last quarter. USA Financial Formulas purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth $170,000. Finally, Cadinha & Co. LLC lifted its position in McCormick & Company, Incorporated by 20.0% during the 3rd quarter. Cadinha & Co. LLC now owns 4,800 shares of the company's stock worth $395,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now directly owns 28,217 shares of the company's stock, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MKC shares. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Finally, Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of "Moderate Buy" and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Performance

MKC stock traded up $1.12 during midday trading on Friday, hitting $78.43. 1,310,724 shares of the stock traded hands, compared to its average volume of 2,090,431. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock's fifty day simple moving average is $76.70 and its 200-day simple moving average is $78.35. The firm has a market cap of $21.03 billion, a P/E ratio of 26.77, a PEG ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. This is a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.43%.

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.