Elevate Capital Advisors LLC Purchases 7,442 Shares of McCormick & Company, Incorporated $MKC

Elevate Capital Advisors LLC grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 44.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 24,020 shares of the company’s stock after acquiring an additional 7,442 shares during the period. Elevate Capital Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $1,821,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MKC. Alyeska Investment Group L.P. increased its position in shares of McCormick & Company, Incorporated by 1,360.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock valued at $129,647,000 after purchasing an additional 1,467,254 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 28.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after purchasing an additional 920,618 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its position in shares of McCormick & Company, Incorporated by 94.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after purchasing an additional 865,500 shares during the last quarter. Nuveen LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $55,643,000. Finally, Westfield Capital Management Co. LP bought a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $47,056,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Up 1.2%

NYSE MKC opened at $68.92 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a 50 day simple moving average of $69.02 and a two-hundred day simple moving average of $72.94. The stock has a market cap of $18.50 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 3.38 and a beta of 0.63.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.50%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MKC. Wall Street Zen lowered McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Citigroup reduced their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. UBS Group reduced their price target 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. reduced their price target 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 reduced their price target on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $80.29.

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.