Sei Investments Co. Increases Stake in McCormick & Company, Incorporated

Sei Investments Co. has enhanced its investment in McCormick & Company, Incorporated (NYSE:MKC) by 18.1% during the fourth quarter, as revealed in its latest filing with the Securities and Exchange Commission. After acquiring an additional 24,786 shares during this period, Sei Investments Co. now holds a total of 161,478 shares in the company.

At the end of the most recent quarter, Sei Investments Co. owned approximately 0.06% of McCormick & Company, which was valued at $12,311,000. Other institutional investors have also shown interest in McCormick; Curio Wealth LLC acquired a new stake in the fourth quarter worth around $30,000. Albion Financial Group UT and Twin Tree Management LP both acquired shares valued at $33,000 each. Lee Danner & Bass Inc. invested about $37,000 in McCormick during the same period, while Rosenberg Matthew Hamilton purchased a stake worth approximately $38,000.

Overall, institutional investors now own around 79.74% of McCormick & Company's stock.

Analyst Ratings Changes

McCormick & Company has recently been the focus of several research analyses. TD Cowen upgraded McCormick from a "hold" rating to a "buy" rating, increasing its price target for the stock from $86.00 to $90.00 in a note released on January 8th. Similarly, Jefferies Financial Group also upgraded the stock from a "hold" to a "buy" rating with an increased price objective of $91.00.

Conversely, Barclays reduced its price target on McCormick from $85.00 to $82.00 while maintaining an "equal weight" rating. Argus downgraded McCormick from a "buy" to a "hold" rating as well. Meanwhile, JPMorgan Chase & Co. raised its price target from $66.00 to $69.00 but assigned an "underweight" rating.

In total, one analyst rated the stock as a sell, four rated it as a hold, three gave it a buy rating, and one assigned a strong buy rating. MarketBeat indicates that the average rating for McCormick is "Hold" with an average price target of $83.75.

Insider Transactions at McCormick & Company

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick stock on February 13th for an average price of $77.03, totaling approximately $2,163,926.76. Following the sale, the director now holds 6,177 shares, valued at $475,814.31, marking a reduction of 81.97% in her ownership. This transaction was disclosed in an SEC filing, accessible for public review. Company insiders currently own about 23.80% of its stock.

McCormick & Company Stock Performance

The shares of McCormick opened at $81.47. The company's market capitalization stands at $21.85 billion, with a price-to-earnings (P/E) ratio of 27.80. Other metrics include a price-to-earnings growth (P/E/G) ratio of 3.76 and a beta of 0.71. The firm indicates a quick ratio of 0.31, a current ratio of 0.74, and a debt-to-equity ratio of 0.68. McCormick's 50-day moving average price is $79.26, and the 200-day moving average stands at $78.83. The stock has ranged from a 52-week low of $66.88 to a high of $86.24.

McCormick recently announced its quarterly earnings results on March 25th, revealing earnings of $0.60 per share, which was below analysts' expected $0.64 by $0.04. The company had a return on equity of 14.89% with a net margin of 11.73%. Revenue for the quarter totaled $1.61 billion, meeting analyst expectations.

McCormick Announces Dividend

The company has declared a quarterly dividend of $0.45 per share for its stockholders, which will be paid on April 21st. Stockholders as of record on April 7th will receive this dividend, marking an annualized dividend of $1.80, yielding 2.21%. The ex-dividend date is also set for April 7th. Currently, McCormick's dividend payout ratio is 61.86%.

About McCormick & Company, Incorporated

McCormick & Co, Inc is a prominent manufacturer and distributor of various spices, seasoning mixes, and condiments. The company operates through two main segments: Consumer and Flavor Solutions. The Consumer segment sells a wide range of spices, seasonings, condiments, and sauces to retail outlets.

Investment, Stocks, Shareholding