Geode Capital Management LLC Boosts Holdings in McCormick & Company, Incorporated $MKC

Geode Capital Management LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,508,928 shares of the company’s stock after acquiring an additional 59,587 shares during the quarter. Geode Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $441,571,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Rafferty Asset Management LLC raised its stake in shares of McCormick & Company, Incorporated by 0.7% during the third quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock worth $1,443,000 after acquiring an additional 157 shares in the last quarter. Ransom Advisory Ltd increased its stake in shares of McCormick & Company, Incorporated by 3.6% in the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock worth $315,000 after buying an additional 160 shares during the period. First Affirmative Financial Network increased its stake in shares of McCormick & Company, Incorporated by 3.0% in the third quarter. First Affirmative Financial Network now owns 6,252 shares of the company’s stock worth $418,000 after buying an additional 181 shares during the period. Modern Wealth Management LLC increased its stake in shares of McCormick & Company, Incorporated by 5.9% in the second quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock worth $247,000 after buying an additional 181 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in shares of McCormick & Company, Incorporated by 1.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 15,653 shares of the company’s stock worth $1,066,000 after buying an additional 184 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on MKC. JPMorgan Chase & Co. decreased their target price on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. BTIG Research began coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock. HSBC decreased their target price on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, Sanford C. Bernstein decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Six investment 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.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $64.27.

Insiders Place Their Bets

In related news, Director Gavin Hattersley purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.60% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Up 0.2%

Shares of NYSE MKC opened at $47.46 on Monday. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 2.32 and a beta of 0.65. The firm’s fifty day moving average is $50.12 and its 200 day moving average is $60.52. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $78.16. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.0%. McCormick & Company, Incorporated’s payout ratio is 31.48%.

McCormick & Company, Incorporated Company 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.