Federated Hermes Inc. Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

Federated Hermes Inc. raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 147.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,709 shares of the company’s stock after buying an additional 1,614 shares during the quarter. Federated Hermes Inc.’s holdings in McCormick & Company, Incorporated were worth $185,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in McCormick & Company, Incorporated by 64.6% during the third quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after buying an additional 42,625 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at $5,728,000. International Assets Investment Management LLC raised its stake in 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 valued at $7,946,000 after buying an additional 114,572 shares during the last quarter. Jacobs & Co. CA raised its stake in McCormick & Company, Incorporated by 12.7% during the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock valued at $9,780,000 after buying an additional 16,098 shares during the last quarter. Finally, Fenimore Asset Management Inc. raised its stake in McCormick & Company, Incorporated by 369.2% during the fourth quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after buying an additional 546,911 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares in the company, valued at $430,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares in the company, valued at $430,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock worth $2,504,728. Corporate insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Citigroup lifted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Barclays lifted their target price 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, JPMorgan Chase & Co. reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.88.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $75.45 on Monday. 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 has a one year low of $59.13 and a one year high of $94.39. The firm has a market capitalization of $20.25 billion, a P/E ratio of 28.80, a PEG ratio of 3.87 and a beta of 0.73. The business has a fifty day moving average of $72.40 and a 200 day moving average of $68.42.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

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.