Mawer Investment Management Ltd. Sells 8,821 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mawer Investment Management Ltd. lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 540,367 shares of the company's stock after selling 8,821 shares during the period. Mawer Investment Management Ltd. owned 0.20% of McCormick & Company, Incorporated worth $41,198,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Curio Wealth LLC bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $37,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. 79.74% of the stock is owned by institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares of the company's stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.80% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays cut their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.14.

McCormick & Company, Incorporated Stock Up 0.1 %

McCormick & Company, Incorporated stock traded up $0.12 during trading on Thursday, hitting $81.41. 2,052,701 shares of the company were exchanged, compared to its average volume of 1,891,963. The company has a market capitalization of $21.83 billion, a P/E ratio of 27.79, a PEG ratio of 3.76 and a beta of 0.71. The business's 50 day moving average is $79.76 and its 200 day moving average is $78.81. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 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.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

About McCormick & Company, Incorporated

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.