Hsbc Holdings PLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 13.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 512,501 shares of the company’s stock after buying an additional 61,309 shares during the period. Hsbc Holdings PLC’s holdings in McCormick & Company, Incorporated were worth $25,915,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in McCormick & Company, Incorporated by 60.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company’s stock valued at $113,047,000 after acquiring an additional 628,390 shares in the last quarter. PGGM Investments increased its holdings in McCormick & Company, Incorporated by 10.2% during the 4th quarter. PGGM Investments now owns 746,607 shares of the company’s stock worth $50,851,000 after purchasing an additional 69,034 shares in the last quarter. Vanguard Group Inc. increased its holdings in McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company’s stock worth $2,225,828,000 after purchasing an additional 314,252 shares in the last quarter. Scott & Selber Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $1,387,000. Finally, Middleton & Co. Inc. MA acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $1,613,000. Institutional investors own 79.74% of the company’s stock.
McCormick & Company, Incorporated Stock Up 0.3%
Shares of MKC stock opened at $52.42 on Wednesday. The firm’s fifty day moving average price is $49.03 and its two-hundred day moving average price is $56.09. The company has a current ratio of 0.78, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $73.84. The firm has a market capitalization of $14.09 billion, a P/E ratio of 8.72, a PEG ratio of 2.62 and a beta of 0.63.
McCormick & Company, Incorporated Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, July 6th. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.95%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. HSBC cut their price target on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Stifel Nicolaus dropped their target price on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. dropped their target price on 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. TD Cowen cut their target price on McCormick & Company, Incorporated from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Finally, Weiss Ratings downgraded McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Six research 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 company has an average rating of “Hold” and an average price target of $60.50.
View Our Latest Research Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Company 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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