ASR Vermogensbeheer N.V. Raises Position in McCormick & Company, Incorporated $MKC

ASR Vermogensbeheer N.V. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 48,076 shares of the company’s stock after buying an additional 2,912 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in McCormick & Company, Incorporated were worth $3,645,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Pacific Point Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 5.5% during the 2nd quarter. Pacific Point Advisors LLC now owns 20,154 shares of the company’s stock valued at $1,528,000 after buying an additional 1,047 shares in the last quarter. PGGM Investments purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $21,235,000. Truist Financial Corp lifted its holdings in McCormick & Company, Incorporated by 3.1% during the second quarter. Truist Financial Corp now owns 64,589 shares of the company’s stock valued at $4,897,000 after purchasing an additional 1,928 shares in the last quarter. Chicago Capital LLC lifted its holdings in McCormick & Company, Incorporated by 27.7% during the second quarter. Chicago Capital LLC now owns 7,470 shares of the company’s stock valued at $566,000 after purchasing an additional 1,620 shares in the last quarter. Finally, GC Wealth Management RIA LLC purchased a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $420,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus lowered their price objective on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. UBS Group lowered their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, Jefferies Financial Group lowered their price target on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $80.29.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $68.92 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $18.50 billion, a P/E ratio of 23.93, a P/E/G ratio of 3.38 and a beta of 0.63. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The business’s 50-day moving average is $69.02 and its 200 day moving average is $72.94.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.50%.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.