McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by TD Private Client Wealth LLC

TD Private Client Wealth LLC lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2,398.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,073 shares of the company's stock after buying an additional 3,910 shares during the period. TD Private Client Wealth LLC's holdings in McCormick & Company, Incorporated were worth $335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Savvy Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $466,000. Sowell Financial Services LLC acquired a new position in McCormick & Company, Incorporated during the first quarter valued at $260,000. Somerville Kurt F lifted its position in McCormick & Company, Incorporated by 34.2% during the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company's stock valued at $7,325,000 after purchasing an additional 24,467 shares during the period. IFM Investors Pty Ltd lifted its position in McCormick & Company, Incorporated by 13.3% during the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock valued at $4,091,000 after purchasing an additional 5,829 shares during the period. Finally, Dempze Nancy E lifted its position in McCormick & Company, Incorporated by 28.4% during the fourth quarter. Dempze Nancy E now owns 26,337 shares of the company's stock valued at $2,008,000 after purchasing an additional 5,833 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Citigroup decreased their target price 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. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 target price for the company. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One research 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.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $84.13.

McCormick & Company, Incorporated Trading Up 0.4%

Shares of McCormick & Company, Incorporated stock opened at $72.49 on Friday. The firm has a 50-day simple moving average of $74.18 and a two-hundred day simple moving average of $76.37. The company has a market cap of $19.45 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 3.47 and a beta of 0.68. McCormick & Company, Incorporated has a fifty-two week low of $69.98 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.48%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Insider Activity at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 23.80% of the stock is owned by corporate insiders.

About McCormick & Company, Incorporated

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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