Sun. Sep 25th, 2022
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Envestnet Asset Management Inc. trimmed its position in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,374 shares of the company’s stock after selling 4,812 shares during the period. Envestnet Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $11,714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Confluence Wealth Services Inc. bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $29,000. Western Pacific Wealth Management LP boosted its holdings in McCormick & Company, Incorporated by 50.0% in the first quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Lumature Wealth Partners LLC boosted its holdings in McCormick & Company, Incorporated by 65.3% in the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock worth $31,000 after acquiring an additional 128 shares in the last quarter. Riverview Trust Co bought a new stake in McCormick & Company, Incorporated in the first quarter worth $31,000. Finally, Missouri Trust & Investment Co bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $34,000. 74.86% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 0.0 %

Shares of NYSE:MKC opened at $88.33 on Friday. McCormick & Company, Incorporated has a 1 year low of $77.85 and a 1 year high of $107.35. The stock’s fifty day moving average price is $85.60 and its 200-day moving average price is $94.03. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $23.70 billion, a P/E ratio of 34.91, a PEG ratio of 5.49 and a beta of 0.50.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its earnings results on Wednesday, June 29th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.02 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, July 11th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Friday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is 58.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft dropped their target price on McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, TheStreet downgraded McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price of $99.00.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 10,580 shares of the stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total value of $893,375.20. Following the transaction, the director now owns 12,660 shares of the company’s stock, valued at $1,069,010.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Profile

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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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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)



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