Swiss National Bank raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 743,200 shares of the company’s stock after acquiring an additional 49,300 shares during the quarter. Swiss National Bank owned approximately 0.28% of McCormick & Company, Incorporated worth $37,487,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares during the last quarter. Empowered Funds LLC increased its holdings in McCormick & Company, Incorporated by 19.0% in the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after buying an additional 941 shares during the last quarter. Woodline Partners LP increased its holdings in McCormick & Company, Incorporated by 40.9% in the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after buying an additional 6,189 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in McCormick & Company, Incorporated during the second quarter valued at approximately $6,520,000. Finally, Daiwa Securities Group Inc. raised its stake in McCormick & Company, Incorporated by 6.1% during the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after buying an additional 2,176 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.
McCormick & Company, Incorporated Stock Down 0.6%
NYSE:MKC opened at $52.04 on Thursday. The firm has a market capitalization of $13.99 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.63. The stock has a 50 day moving average of $49.16 and a 200-day moving average of $55.97. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $73.84. 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 Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.92 annualized dividend and a dividend yield of 3.7%. McCormick & Company, Incorporated’s payout ratio is 31.95%.
Analysts Set New Price Targets
Several research analysts have recently commented on MKC shares. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings lowered McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. TD Cowen reduced their price objective 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. Stifel Nicolaus lowered their target price on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Finally, BTIG Research started coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, April 14th. They set a “neutral” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $60.50.
Check Out Our Latest Stock Report on MKC
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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