Pacer Advisors Inc. cut its position in McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 39.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,081 shares of the company’s stock after selling 12,829 shares during the quarter. Pacer Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $1,013,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of McCormick & Company, Incorporated by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company’s stock worth $113,047,000 after purchasing an additional 628,390 shares in the last quarter. PGGM Investments raised 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 valued at $50,851,000 after acquiring an additional 69,034 shares during the period. Vanguard Group Inc. raised 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 valued at $2,225,828,000 after acquiring an additional 314,252 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of McCormick & Company, Incorporated by 10.4% in the fourth quarter. Hsbc Holdings PLC now owns 500,292 shares of the company’s stock worth $34,086,000 after acquiring an additional 47,119 shares during the period. Finally, Middleton & Co. Inc. MA purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $1,613,000. 79.74% of the stock is currently owned by institutional investors.
McCormick & Company, Incorporated Stock Down 0.0%
MKC stock opened at $52.94 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $50.22 and its 200 day moving average is $54.66. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $72.58.
McCormick & Company, Incorporated Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, July 6th. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.95%.
Analyst Ratings Changes
A number of brokerages recently issued reports on MKC. Sanford C. Bernstein dropped their price objective on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, June 26th. Jefferies Financial Group lowered their price target on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. TD Cowen cut their price objective on shares of McCormick & Company, Incorporated from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Weiss Ratings raised shares of McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on shares of McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.50.
Get Our Latest Stock Report on MKC
About McCormick & Company, Incorporated
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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