On June 6, 2023, Natixis Investment Managers International announced that it had lessened its holdings in shares of McCormick & Company, Incorporated by 8.7% during the fourth quarter. The national manager of investment products held 523,370 shares after selling a total of 49,985 shares during the period. This move left McCormick & Company Incorporated comprising only 3.2% of its portfolio – nonetheless making it the tenth largest point in its stock. At that time, Natixis Investment Managers International had ownership of at least $43,382,000 value in McCormick & Company Incorporated.
The company also recently revealed details about a quarterly dividend and shared that it had paid shareholders on April 24th even as those whose names were entered into company records before April 10th received $0.39 per share. This brought an annualized dividend payout element to a total sum of $1.56 which yielded dividends amounting to approximately 1.75% without counting capital gains or losses on any positions.
Several research analysts weighed in on MKC shares subsequent to this announcement with downgrades from JP Morgan Chase and Bank of America taking center stage whereas UBS Group chose to assume coverage despite taking a rather pessimistic view when it came to assigning sell ratings for both sell-side and earn-side investors within its notes. Stifel Nicolaus assumed middle ground with “hold” ratings while Deutsche Bank Aktiengesellschaft stuck with a neutral position in its reports — despite raising target prices to reach at least $75.
Despite these potentially contradictory messages coming from notable insiders via Bloomberg.com and other venues such prospects have not dampened confidence among buyers leading up to this next earnings season giving them hope that there are still reasonable returns awaiting them if they play their cards wisely moving forward into uncertain market conditions ongoing trends dictate overall bullish behavior at the moment though that could shift quickly depending on what kinds of developments shake out next in this segment of the economy.
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Large Investors Show Interest in McCormick & Company’s Stock
McCormick & Company, Incorporated recently made headlines as several large investors bought and sold shares in the company. Massachusetts Financial Services Co. MA increased its holdings by 27.9%, while State Street Corp and Vanguard Group Inc. also raised their stakes by 4.3% and 1.6%, respectively. Meanwhile, Pictet Asset Management SA grew its stake by a massive 85.5%. Balyasny Asset Management also bought a new stake in the third quarter of last year valued at $27,153,000. These institutional investors now own 79.15% of McCormick & Company’s stock.
In related news, CEO Lawrence Erik Kurzius sold almost 40,000 shares of the company’s stock at an average price of $90.02 per share for a total value of over $3 million.
On April 24th, McCormick & Company also announced its quarterly dividend, paying $0.39 per share to shareholders on record as of April 10th with an ex-dividend date of April 6th.
Currently trading at $88.97 per share with a market cap of $23.86 billion, McCormick & Company has a debt-to-equity ratio of 0.74 and a beta of 0.58, indicating that it is less volatile than the market as a whole.
The company released its earnings report last March, earning $0.59 per share for the quarter and beating analysts’ estimates by $0.10 per share with revenue at $1.57 billion.
Overall, this recent activity from major institutional investors shows a growing interest in McCormick & Company’s stock and could indicate positive growth potential for the future of the company’s business operations.”,MKC”