MAI Capital Management raised its stake in McCormick & Company, Incorporated (NYSE:MKC – Get Rating) by 11.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 24,823 shares of the company’s stock after purchasing an additional 2,550 shares during the period. MAI Capital Management’s holdings in McCormick & Company, Incorporated were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in MKC. Confluence Wealth Services Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $29,000. Western Pacific Wealth Management LP boosted its stake in McCormick & Company, Incorporated by 50.0% during the 1st quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Lumature Wealth Partners LLC grew its position in McCormick & Company, Incorporated by 65.3% during the 4th quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock worth $31,000 after purchasing an additional 128 shares during the last quarter. Riverview Trust Co acquired a new position in McCormick & Company, Incorporated in the first quarter valued at $31,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on MKC shares. TheStreet lowered McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft cut their price target on McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Finally, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $99.00.
Insider Activity at McCormick & Company, Incorporated
McCormick & Company, Incorporated Trading Up 1.3 %
NYSE:MKC opened at $91.85 on Tuesday. The stock has a market capitalization of $24.64 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 5.64 and a beta of 0.50. McCormick & Company, Incorporated has a 1 year low of $77.85 and a 1 year high of $107.35. The stock has a fifty day moving average price of $85.49 and a two-hundred day moving average price of $93.81. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.74.
McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last announced its quarterly earnings data on Wednesday, June 29th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.17). McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.69 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.02 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Monday, July 11th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is currently 58.50%.
McCormick & Company, Incorporated Company 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.
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