Corebridge Financial Inc. Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Corebridge Financial Inc. trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 64,823 shares of the company’s stock after selling 2,861 shares during the quarter. Corebridge Financial Inc.’s holdings in McCormick & Company, Incorporated were worth $4,942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. International Private Wealth Advisors LLC grew its holdings in shares of McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after buying an additional 136 shares during the last quarter. Empower Advisory Group LLC boosted its stake in McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after purchasing an additional 153 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of McCormick & Company, Incorporated by 1.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after purchasing an additional 154 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock worth $427,000 after purchasing an additional 169 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.2 %

NYSE:MKC opened at $81.47 on Friday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The business has a fifty day moving average price of $79.26 and a 200-day moving average price of $78.83. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MKC. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $83.75.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.