McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. raised its stake in McCormick & Company by 18.1%, holding approximately $45.09 million in the company's shares as of the last quarter.
• Several other hedge funds also increased their positions, with 79.74% of McCormick's stock being owned by institutional investors.
• Analysts currently rate McCormick's stock as a "Hold", with a consensus price target of $83.00 amid various rating updates from financial firms.

Benjamin Edwards Inc. raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 547,773 shares of the company's stock after acquiring an additional 83,936 shares during the period. Benjamin Edwards Inc. owned approximately 0.20% of McCormick & Company, Incorporated worth $45,087,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at approximately $28,000. Wayfinding Financial LLC purchased a new position in McCormick & Company, Incorporated in the first quarter worth $30,000. Salem Investment Counselors Inc. lifted its holdings in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $33,000. Finally, Stonebridge Financial Group LLC grew its stake in shares of McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after purchasing an additional 202 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded down $0.58 during mid-day trading on Tuesday, hitting $69.09. 2,359,589 shares of the company were exchanged, compared to its average volume of 2,294,059. McCormick & Company, Incorporated has a 12-month low of $68.42 and a 12-month high of $86.24. The company has a market capitalization of $18.54 billion, a P/E ratio of 23.99, a PEG ratio of 3.38 and a beta of 0.66. The business's 50 day simple moving average is $72.98 and its two-hundred day simple moving average is $75.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. McCormick & Company, Incorporated's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. Analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

Analyst Ratings Changes

Several analysts recently commented on MKC shares. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Citigroup reduced their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, UBS Group started coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $83.00.

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.