AMI Asset Management Corp trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,944 shares of the company's stock after selling 13,854 shares during the quarter. AMI Asset Management Corp owned 0.13% of McCormick & Company, Incorporated worth $26,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its stake in McCormick & Company, Incorporated by 13.3% during the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock worth $4,091,000 after buying an additional 5,829 shares during the last quarter. Sowell Financial Services LLC purchased a new position in McCormick & Company, Incorporated during the 1st quarter worth $260,000. Stratos Wealth Partners LTD. grew its stake in McCormick & Company, Incorporated by 5.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock worth $7,267,000 after buying an additional 4,771 shares during the last quarter. Retirement Guys Formula LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in McCormick & Company, Incorporated by 10.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company's stock valued at $3,464,000 after purchasing an additional 3,877 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. Wall Street Zen downgraded McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Citigroup dropped their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Finally, Jefferies Financial Group decreased their price objective on McCormick & Company, Incorporated from $90.00 to $84.00 and set a "buy" rating for the company in a report on Monday, September 22nd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average price target of $80.29.
Check Out Our Latest Report on MKC
McCormick & Company, Incorporated Stock Performance
Shares of MKC stock opened at $67.80 on Thursday. The stock has a market cap of $18.19 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 3.32 and a beta of 0.63. The business has a 50-day simple moving average of $69.14 and a 200-day simple moving average of $73.12. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.
About McCormick & Company, Incorporated
(
Free Report)
McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.
Read More
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).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider McCormick & Company, Incorporated, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McCormick & Company, Incorporated wasn't on the list.
While McCormick & Company, Incorporated currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
