Sun. Sep 25th, 2022
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Great Lakes Advisors LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,470 shares of the company’s stock after acquiring an additional 782 shares during the period. Great Lakes Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.

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

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $88.33 on Monday. The business’s 50 day moving average price is $85.60 and its two-hundred day moving average price is $94.02. The company has a market cap of $23.70 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 5.50 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.85. McCormick & Company, Incorporated has a twelve month low of $77.85 and a twelve month high of $107.35.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last announced its quarterly 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). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 16.48% and a net margin of 10.78%. McCormick & Company, Incorporated’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. On average, analysts predict that McCormick & Company, Incorporated will post 3.02 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Analysts Set New Price Targets

MKC has been the topic of a number of recent research reports. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. TheStreet downgraded McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $99.00.

Insider Activity

In other news, Director Margaret M. V. Preston sold 10,580 shares of the company’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Profile

(Get Rating)

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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