OLD Republic International Corp Buys Shares of 86,000 McCormick & Company, Incorporated $MKC

OLD Republic International Corp bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 86,000 shares of the company’s stock, valued at approximately $5,857,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WINTON GROUP Ltd grew its stake in McCormick & Company, Incorporated by 76.9% in the third quarter. WINTON GROUP Ltd now owns 37,500 shares of the company’s stock valued at $2,509,000 after purchasing an additional 16,300 shares during the last quarter. Nuance Investments LLC purchased a new position in McCormick & Company, Incorporated in the third quarter valued at about $15,388,000. Envestnet Asset Management Inc. grew its stake in McCormick & Company, Incorporated by 3.5% in the third quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company’s stock valued at $58,806,000 after purchasing an additional 29,418 shares during the last quarter. Cibc World Market Inc. purchased a new position in McCormick & Company, Incorporated in the third quarter valued at about $3,819,000. Finally, Strengthening Families & Communities LLC grew its stake in McCormick & Company, Incorporated by 3,178.6% in the third quarter. Strengthening Families & Communities LLC now owns 33,048 shares of the company’s stock valued at $2,211,000 after purchasing an additional 32,040 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $47.82 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The company has a market cap of $12.85 billion, a PE ratio of 7.84, a P/E/G ratio of 2.34 and a beta of 0.68. The business has a 50-day simple moving average of $51.10 and a two-hundred day simple moving average of $61.14. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. McCormick & Company, Incorporated’s payout ratio is 31.48%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley bought 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 completion of the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This trade represents a 220.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. BNP Paribas Exane lowered their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. UBS Group lowered their price target on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft lowered their price target on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a report on Monday, March 30th. Finally, Barclays lowered their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.27.

McCormick & Company, Incorporated 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.