WoodTrust Financial Corp Purchases 600 Shares of McCormick & Company, Incorporated (NYSE:MKC)

WoodTrust Financial Corp grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,450 shares of the company’s stock after purchasing an additional 600 shares during the quarter. WoodTrust Financial Corp’s holdings in McCormick & Company, Incorporated were worth $419,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in McCormick & Company, Incorporated by 64.6% during the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after acquiring an additional 42,625 shares during the period. Cullen Investment Group LTD. purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $5,728,000. International Assets Investment Management LLC grew its holdings in shares of 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 last quarter. abrdn plc grew its holdings in shares of 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 last quarter. Finally, Jacobs & Co. CA increased its stake in shares of 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 buying an additional 16,098 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction 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 directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,458 shares of company stock valued at $7,747,114. Company insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of several analyst reports. TD Cowen dropped their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Barclays boosted their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.25.

McCormick & Company, Incorporated Stock Performance

MKC stock traded up $0.34 during trading on Friday, reaching $70.94. The stock had a trading volume of 4,136,213 shares, compared to its average volume of 2,226,184. The stock’s 50 day moving average is $72.19 and its two-hundred day moving average is $70.17. The firm has a market cap of $19.04 billion, a PE ratio of 25.89, a PEG ratio of 3.70 and a beta of 0.74. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $90.83. The company has a current ratio of 0.69, a quick ratio of 0.30 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.84 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

McCormick & Company, Incorporated 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.