Lazard Asset Management LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 19.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 128,304 shares of the company’s stock after selling 31,057 shares during the quarter. Lazard Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $6,472,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Deseret Mutual Benefit Administrators grew its holdings in McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after buying an additional 164 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $28,000. Zions Bancorporation National Association UT raised its stake in McCormick & Company, Incorporated by 340.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after acquiring an additional 357 shares in the last quarter. Union Savings Bank bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $36,000. Finally, Glen Eagle Advisors LLC boosted its position in McCormick & Company, Incorporated by 42.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock worth $39,000 after acquiring an additional 170 shares during the period. Institutional investors own 79.74% of the company’s stock.
McCormick & Company, Incorporated Stock Performance
Shares of NYSE MKC opened at $51.01 on Friday. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $72.58. The firm has a market cap of $13.71 billion, a P/E ratio of 8.49, a PEG ratio of 2.60 and a beta of 0.63. The stock has a fifty day moving average price of $49.65 and a two-hundred day moving average price of $55.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78.
McCormick & Company, Incorporated Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were given a $0.48 dividend. The ex-dividend date was Monday, July 6th. This represents a $1.92 annualized dividend and a yield of 3.8%. McCormick & Company, Incorporated’s payout ratio is 31.95%.
Analysts Set New Price Targets
Several research firms have recently issued reports on MKC. Barclays decreased their price target on McCormick & Company, Incorporated from $57.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, June 26th. UBS Group upped their price objective on shares of McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. BTIG Research began coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating for the company. Weiss Ratings cut shares of McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.50.
Check Out Our Latest Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Profile
McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.
McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.
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