Clearbridge Investments LLC Has $166.57 Million Holdings in McCormick & Company, Incorporated $MKC

Clearbridge Investments LLC cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,445,575 shares of the company’s stock after selling 16,207 shares during the quarter. Clearbridge Investments LLC’s holdings in McCormick & Company, Incorporated were worth $166,568,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Rafferty Asset Management LLC lifted its holdings 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 buying an additional 157 shares during the last quarter. Ransom Advisory Ltd lifted its holdings in shares of McCormick & Company, Incorporated by 3.6% during 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 last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after buying an additional 164 shares during the last quarter. First Affirmative Financial Network lifted its holdings in shares of McCormick & Company, Incorporated by 3.0% during 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 last quarter. Finally, Modern Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 5.9% during 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 last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 0.1%

Shares of MKC stock opened at $47.31 on Monday. The stock has a market cap of $12.71 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16. The stock has a fifty day moving average price of $49.48 and a 200 day moving average price of $59.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36.

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

McCormick & Company, Incorporated Announces Dividend

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

Insider Transactions at McCormick & Company, Incorporated

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

Analysts Set New Price Targets

A number of brokerages have recently commented on MKC. TD Cowen cut their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Sanford C. Bernstein reduced their target price on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Jefferies Financial Group reduced their target price on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday. BTIG Research began coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus target price of $63.36.

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.