Bartlett & CO. Wealth Management LLC Has $44.71 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Bartlett & CO. Wealth Management LLC has reduced its stake in McCormick & Company by 1.1%, now holding 589,705 shares worth approximately $44.71 million.
• Institutional ownership of McCormick & Company stands at 79.74%, with significant stake increases from firms like Alecta Tjanstepension Omsesidigt and T. Rowe Price Investment Management.
• The company's stock, trading at $66.92, has a market capitalization of $17.96 billion and recently announced a quarterly dividend of $0.45, equating to a 2.7% yield.

Bartlett & CO. Wealth Management LLC cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 589,705 shares of the company's stock after selling 6,770 shares during the quarter. Bartlett & CO. Wealth Management LLC owned 0.22% of McCormick & Company, Incorporated worth $44,711,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 0.4% during the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company's stock worth $2,623,552,000 after buying an additional 136,729 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in McCormick & Company, Incorporated by 28.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock valued at $340,406,000 after purchasing an additional 920,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in McCormick & Company, Incorporated by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company's stock valued at $265,920,000 after purchasing an additional 184,230 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in McCormick & Company, Incorporated by 2.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company's stock valued at $194,253,000 after purchasing an additional 60,604 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its holdings in McCormick & Company, Incorporated by 94.7% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company's stock valued at $134,795,000 after purchasing an additional 865,500 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $66.92 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The company has a 50 day moving average price of $69.23 and a 200 day moving average price of $73.15. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24. The stock has a market capitalization of $17.96 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 3.32 and a beta of 0.65.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated's payout ratio is 62.50%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MKC. UBS Group decreased their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Jefferies Financial Group decreased their price objective on McCormick & Company, Incorporated from $90.00 to $84.00 and set a "buy" rating on the stock in a report on Monday, September 22nd. Citigroup decreased their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. Wall Street Zen downgraded McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Finally, JPMorgan Chase & Co. decreased their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.25.

McCormick & Company, Incorporated Profile

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.

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