AMI Asset Management Corp cut its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,822 shares of the company's stock after selling 11,412 shares during the quarter. AMI Asset Management Corp owned about 0.14% of McCormick & Company, Incorporated worth $31,671,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of McCormick & Company, Incorporated by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 656,686 shares of the company's stock valued at $50,440,000 after buying an additional 3,584 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of McCormick & Company, Incorporated by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company's stock valued at $2,094,000 after buying an additional 135 shares in the last quarter. Norden Group LLC bought a new position in shares of McCormick & Company, Incorporated in the first quarter valued at $5,444,000. Kesler Norman & Wride LLC boosted its position in McCormick & Company, Incorporated by 2.7% during the first quarter. Kesler Norman & Wride LLC now owns 20,727 shares of the company's stock worth $1,592,000 after purchasing an additional 547 shares during the period. Finally, Hartline Investment Corp bought a new position in McCormick & Company, Incorporated during the first quarter worth $227,000. 79.74% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on MKC shares. BNP Paribas raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. TD Cowen lifted their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $79.57.
View Our Latest Stock Report on MKC
McCormick & Company, Incorporated Stock Performance
Shares of McCormick & Company, Incorporated stock traded up $0.51 during trading on Wednesday, reaching $77.99. The company's stock had a trading volume of 1,204,936 shares, compared to its average volume of 1,916,829. The business's 50-day moving average price is $81.13 and its 200-day moving average price is $76.00. The firm has a market cap of $20.95 billion, a PE ratio of 28.46, a P/E/G ratio of 3.62 and a beta of 0.77. McCormick & Company, Incorporated has a 52 week low of $63.28 and a 52 week high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.
McCormick & Company, Incorporated Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.31%.
About McCormick & Company, Incorporated
(
Free Report)
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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