Allspring Global Investments Holdings LLC Has $846,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

Allspring Global Investments Holdings LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,370 shares of the company’s stock after selling 487 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in McCormick & Company, Incorporated were worth $846,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of McCormick & Company, Incorporated by 64.6% during the third quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock worth $8,216,000 after purchasing an additional 42,625 shares during the period. International Assets Investment Management LLC raised its position in shares of McCormick & Company, Incorporated by 7,344.4% during the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after purchasing an additional 114,572 shares during the period. Jacobs & Co. CA raised its position in shares of McCormick & Company, Incorporated by 12.7% during the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock worth $9,780,000 after purchasing an additional 16,098 shares during the period. Fenimore Asset Management Inc. raised its position in shares of McCormick & Company, Incorporated by 369.2% during the fourth quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock worth $47,554,000 after purchasing an additional 546,911 shares during the period. Finally, Howland Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 11.4% during the fourth quarter. Howland Capital Management LLC now owns 275,703 shares of the company’s stock worth $18,979,000 after purchasing an additional 28,149 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,726 shares of company stock valued at $2,504,728. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Trading Up 1.1 %

Shares of McCormick & Company, Incorporated stock opened at $75.85 on Thursday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The firm has a market cap of $20.36 billion, a PE ratio of 28.95, a P/E/G ratio of 3.83 and a beta of 0.74. The stock has a fifty day moving average price of $71.22 and a 200-day moving average price of $67.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping 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 company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm posted $0.59 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MKC shares. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Citigroup upped their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. Barclays upped their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Finally, Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Company 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.