Vest Financial LLC Has $48.99 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Vest Financial LLC decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 6.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 719,260 shares of the company’s stock after selling 48,160 shares during the period. Vest Financial LLC’s holdings in McCormick & Company, Incorporated were worth $48,989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Invesco Ltd. increased its stake in shares of McCormick & Company, Incorporated by 66.7% in the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock valued at $417,006,000 after buying an additional 2,494,544 shares during the period. Wellington Management Group LLP increased its stake in shares of McCormick & Company, Incorporated by 67.2% in the third quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock valued at $187,183,000 after buying an additional 1,124,003 shares during the period. State Street Corp increased its stake in shares of McCormick & Company, Incorporated by 5.1% in the third quarter. State Street Corp now owns 15,522,816 shares of the company’s stock valued at $1,038,632,000 after buying an additional 747,844 shares during the period. American Century Companies Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $48,576,000. Finally, Scopus Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 191.0% in the third quarter. Scopus Asset Management L.P. now owns 885,250 shares of the company’s stock valued at $59,232,000 after buying an additional 581,017 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 2.2%

NYSE MKC opened at $50.40 on Tuesday. The business has a 50 day simple moving average of $57.75 and a 200 day simple moving average of $63.30. McCormick & Company, Incorporated has a one year low of $47.52 and a one year high of $78.16. The stock has a market capitalization of $13.54 billion, a P/E ratio of 8.26, a P/E/G ratio of 2.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. Research analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 31.48%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $71.63, for a total value of $3,581,500.00. Following the completion of the sale, the insider owned 296,992 shares of the company’s stock, valued at approximately $21,273,536.96. This trade represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gavin Hattersley acquired 2,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, April 10th. The stock was purchased at an average cost of $52.98 per share, with a total value of $105,960.00. Following the purchase, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 65,000 shares of company stock worth $4,575,800. 10.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MKC has been the subject of several recent research reports. TD Cowen decreased their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Sanford C. Bernstein decreased their target price on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft decreased their target price on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Zacks Research raised McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, BTIG Research assumed coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $64.27.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.