Xponance Inc. Has $2.19 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Xponance Inc. cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,972 shares of the company’s stock after selling 276 shares during the quarter. Xponance Inc.’s holdings in McCormick & Company, Incorporated were worth $2,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in McCormick & Company, Incorporated by 147.4% in the fourth quarter. Federated Hermes Inc. now owns 2,709 shares of the company’s stock valued at $185,000 after buying an additional 1,614 shares during the period. Tufton Capital Management grew its holdings in McCormick & Company, Incorporated by 207.3% during the fourth quarter. Tufton Capital Management now owns 34,993 shares of the company’s stock worth $2,394,000 after buying an additional 23,606 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in McCormick & Company, Incorporated by 24.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 25,913 shares of the company’s stock worth $1,773,000 after buying an additional 5,101 shares in the last quarter. TRUE Private Wealth Advisors grew its stake in McCormick & Company, Incorporated by 55.1% in the 4th quarter. TRUE Private Wealth Advisors now owns 4,407 shares of the company’s stock valued at $302,000 after purchasing an additional 1,566 shares during the period. Finally, Mackenzie Financial Corp grew its stake in McCormick & Company, Incorporated by 8.9% in the 4th quarter. Mackenzie Financial Corp now owns 97,727 shares of the company’s stock valued at $6,686,000 after purchasing an additional 7,986 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at $430,738. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $2,376,400 in the last ninety days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.0 %

Shares of NYSE:MKC opened at $74.69 on Tuesday. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The stock has a market cap of $20.05 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 3.79 and a beta of 0.74. The business’s 50 day moving average is $70.80 and its 200 day moving average is $67.56. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MKC. Barclays upped their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, April 2nd. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.