Wealthfront Advisers LLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 57.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,068 shares of the company’s stock after selling 12,012 shares during the period. Wealthfront Advisers LLC’s holdings in McCormick & Company, Incorporated were worth $457,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in McCormick & Company, Incorporated by 60.9% during the fourth 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 during the period. PGGM Investments increased its stake in McCormick & Company, Incorporated by 10.2% during the fourth quarter. PGGM Investments now owns 746,607 shares of the company’s stock worth $50,851,000 after acquiring an additional 69,034 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 1.0% in 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 during the period. Hsbc Holdings PLC raised its holdings in shares of McCormick & Company, Incorporated by 10.4% in the 4th quarter. Hsbc Holdings PLC now owns 500,292 shares of the company’s stock worth $34,086,000 after purchasing an additional 47,119 shares during the period. Finally, Middleton & Co. Inc. MA acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $1,613,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
McCormick & Company, Incorporated Trading Down 0.6%
Shares of MKC opened at $52.04 on Thursday. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $73.84. The stock’s 50-day moving average is $49.16 and its two-hundred day moving average is $55.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.39. The stock has a market cap of $13.99 billion, a PE ratio of 8.66, a P/E/G ratio of 2.62 and a beta of 0.63.
McCormick & Company, Incorporated Announces Dividend
The company also recently disclosed 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 of this dividend was Monday, July 6th. This represents a $1.92 annualized dividend and a yield of 3.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 31.95%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on MKC shares. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Weiss Ratings lowered shares of McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 12th. TD Cowen reduced their price target on shares of McCormick & Company, Incorporated from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Jefferies Financial Group decreased their price objective on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.50.
Get Our Latest Research 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.
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.
