Bank of New York Mellon Corp cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,291,419 shares of the company’s stock after selling 93,595 shares during the quarter. Bank of New York Mellon Corp’s holdings in McCormick & Company, Incorporated were worth $65,139,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Deseret Mutual Benefit Administrators increased its stake in McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $28,000. Zions Bancorporation National Association UT grew its stake in shares of McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after buying an additional 357 shares during the period. Union Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $36,000. Finally, Glen Eagle Advisors LLC increased its position in McCormick & Company, Incorporated by 42.5% in the 4th quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock valued at $39,000 after buying an additional 170 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
McCormick & Company, Incorporated Price Performance
Shares of NYSE MKC opened at $52.04 on Thursday. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 2.62 and a beta of 0.63. 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 has a fifty-two week low of $44.82 and a fifty-two week high of $73.84. The firm’s 50-day simple moving average is $49.16 and its 200 day simple moving average is $55.97.
McCormick & Company, Incorporated Dividend Announcement
The business also recently declared 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. The ex-dividend date was Monday, July 6th. This represents a $1.92 annualized dividend and a yield of 3.7%. McCormick & Company, Incorporated’s dividend payout ratio is 31.95%.
Analysts Set New Price Targets
MKC has been the topic of a number of research reports. Sanford C. Bernstein dropped their price target on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. BTIG Research started coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a “neutral” rating for the company. Weiss Ratings downgraded McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a 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 report on Friday, June 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.50.
Check Out Our Latest Analysis 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.
Featured Articles
- Five stocks we like better than McCormick & Company, Incorporated
- Could Truth API Become Trump Media’s First Meaningful Revenue Driver?
- Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying
- Moog Is More Than a Missile Maker, and Wall Street Is Noticing
- A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKC – Free Report).
Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
