Xponance Inc. Has $2.19 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Xponance Inc. lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,972 shares of the company’s stock after selling 276 shares during the period. Xponance Inc.’s holdings in McCormick & Company, Incorporated were worth $2,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $92,340,000. Impax Asset Management Group plc boosted its stake in shares of McCormick & Company, Incorporated by 157.2% in the 4th quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock valued at $72,749,000 after purchasing an additional 649,908 shares in the last quarter. Fenimore Asset Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 369.2% in the 4th quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after purchasing an additional 546,911 shares in the last quarter. Scopus Asset Management L.P. boosted its stake in shares of McCormick & Company, Incorporated by 711.3% in the 3rd quarter. Scopus Asset Management L.P. now owns 547,600 shares of the company’s stock valued at $41,420,000 after purchasing an additional 480,100 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 183.2% in the 3rd quarter. Acadian Asset Management LLC now owns 641,897 shares of the company’s stock valued at $48,535,000 after purchasing an additional 415,269 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $74.69 on Tuesday. The stock has a market capitalization of $20.05 billion, a P/E ratio of 28.51, a P/E/G ratio of 3.79 and a beta of 0.74. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $70.80 and a two-hundred day moving average price of $67.56.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.25%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $2,376,400 in the last ninety days. 22.90% of the stock is owned by insiders.

Analysts Set New Price Targets

MKC has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Citigroup lifted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. cut their price target 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. Finally, Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.88.

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.