Invesco Ltd. decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,579,370 shares of the company's stock after selling 62,442 shares during the quarter. Invesco Ltd. owned 0.96% of McCormick & Company, Incorporated worth $212,308,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in MKC. IFM Investors Pty Ltd increased its stake in McCormick & Company, Incorporated by 13.3% in the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock valued at $4,091,000 after buying an additional 5,829 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $260,000. Stratos Wealth Partners LTD. increased its stake in McCormick & Company, Incorporated by 5.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock valued at $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 in the 1st quarter valued at about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in McCormick & Company, Incorporated by 10.0% in 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 buying an additional 3,877 shares during the last quarter. Institutional investors own 79.74% of the company's stock.
McCormick & Company, Incorporated Stock Performance
McCormick & Company, Incorporated stock traded down $0.51 during mid-day trading on Friday, reaching $69.68. The company's stock had a trading volume of 1,709,848 shares, compared to its average volume of 2,027,929. 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 $18.70 billion, a P/E ratio of 24.19, a PEG ratio of 3.37 and a beta of 0.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The firm's fifty day moving average price is $72.69 and its two-hundred day moving average price is $75.67.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned $0.69 EPS. McCormick & Company, Incorporated's revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.
Analysts Set New Price Targets
MKC has been the subject of several analyst reports. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price target for the company. Stifel Nicolaus decreased their price target 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. Finally, Citigroup decreased 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 note on Tuesday, June 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.00.
Get Our Latest Stock Analysis on McCormick & Company, Incorporated
McCormick & Company, Incorporated Profile
(
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.
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