McCormick & Company, Incorporated (NYSE:MKC) Stake Lessened by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,854 shares of the company’s stock after selling 3,002 shares during the period. Yousif Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $7,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of McCormick & Company, Incorporated by 64.6% in the third quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock worth $8,216,000 after buying an additional 42,625 shares during the last quarter. Cullen Investment Group LTD. acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $5,728,000. International Assets Investment Management LLC boosted its holdings in McCormick & Company, Incorporated by 7,344.4% in the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after purchasing an additional 114,572 shares during the period. abrdn plc boosted its holdings in McCormick & Company, Incorporated by 19.1% in the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after purchasing an additional 71,133 shares during the period. Finally, Jacobs & Co. CA boosted its holdings in McCormick & Company, Incorporated by 12.7% in the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock worth $9,780,000 after purchasing an additional 16,098 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $75.85 on Thursday. The company has a market capitalization of $20.36 billion, a P/E ratio of 28.95, a PEG ratio of 3.85 and a beta of 0.74. The company has a 50-day simple moving average of $71.22 and a 200 day simple moving average of $67.69. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Insider Buying and Selling

In related news, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the sale, the director now directly owns 5,594 shares in the company, valued at $430,738. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock valued at $2,504,728 over the last 90 days. 22.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on MKC shares. Barclays lifted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Citigroup lifted their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 2nd. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.