Corient Private Wealth LLC Cuts Holdings in McCormick & Company, Incorporated $MKC

Corient Private Wealth LLC decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 472,780 shares of the company’s stock after selling 70,555 shares during the period. Corient Private Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $32,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators lifted its holdings in shares of McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after acquiring an additional 164 shares during the last quarter. Motiv8 Investments LLC bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at $28,000. GoalVest Advisory LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $28,000. Zions Bancorporation National Association UT raised its position in McCormick & Company, Incorporated by 340.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. Finally, Union Savings Bank bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director owned 2,906 shares in the company, valued at approximately $153,959.88. This represents a 220.75% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 10.60% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $46.59 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $48.92 and a 200-day moving average price of $58.50. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 2.30 and a beta of 0.65. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MKC shares. HSBC cut their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, March 26th. UBS Group dropped their target price on McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Sanford C. Bernstein lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. TD Cowen cut their price objective on shares of 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. Finally, Weiss Ratings lowered shares of McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.90.

About McCormick & Company, Incorporated

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.