GC Wealth Management RIA LLC Invests $420,000 in McCormick & Company, Incorporated $MKC

Key Points

• GC Wealth Management RIA LLC has invested approximately $420,000 in McCormick & Company, purchasing 5,538 shares during the second quarter, as disclosed in a recent SEC filing.
• McCormick & Company is set to pay a quarterly dividend of $0.45 per share on October 27th, with a dividend yield of 2.7%.
• Analysts have a mixed outlook on McCormick's stock, with several brokerage firms cutting their price targets, resulting in a consensus rating of "Hold" and an average price target of $80.29.

GC Wealth Management RIA LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,538 shares of the company's stock, valued at approximately $420,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $28,000. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. raised its position 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 purchasing an additional 336 shares during the period. Finally, Stonebridge Financial Group LLC raised its position in McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $67.80 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $69.14 and a 200 day moving average price of $73.12. The company has a market cap of $18.19 billion, a P/E ratio of 23.54, a PEG ratio of 3.32 and a beta of 0.63. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24.

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MKC. Jefferies Financial Group cut their target price on McCormick & Company, Incorporated from $90.00 to $84.00 and set a "buy" rating on the stock in a research report on Monday, September 22nd. JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Citigroup cut their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. UBS Group cut their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus cut their price objective on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus price target of $80.29.

McCormick & Company, Incorporated Company 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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