McCormick & Company, Incorporated $MKC Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 500,292 shares of the company’s stock after purchasing an additional 47,119 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of McCormick & Company, Incorporated worth $34,086,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MKC. Mengis Capital Management Inc. boosted its stake in McCormick & Company, Incorporated by 467.1% during the fourth quarter. Mengis Capital Management Inc. now owns 63,200 shares of the company’s stock valued at $4,305,000 after buying an additional 52,055 shares in the last quarter. Bayban acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $54,000. Caitong International Asset Management Co. Ltd raised its position in McCormick & Company, Incorporated by 1,429.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,004 shares of the company’s stock worth $136,000 after acquiring an additional 1,873 shares in the last quarter. BDFS Capital LLC bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $576,000. Finally, DGS Capital Management LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $205,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. HSBC reduced their price objective on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Barclays cut their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Stifel Nicolaus reduced their target price on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. TD Cowen decreased their price target on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.90.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, with a total value of $105,960.00. Following the purchase, the director 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. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Trading Up 3.7%

Shares of MKC opened at $47.41 on Wednesday. The business’s 50-day moving average price is $48.68 and its 200 day moving average price is $58.24. The stock has a market capitalization of $12.74 billion, a P/E ratio of 7.77, a P/E/G ratio of 2.26 and a beta of 0.65. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, July 6th. McCormick & Company, Incorporated’s dividend 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.