TD Private Client Wealth LLC Acquires 3,910 Shares of McCormick & Company, Incorporated (NYSE:MKC)

TD Private Client Wealth LLC grew its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2,398.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,073 shares of the company's stock after acquiring 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Envestnet Asset Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 621,806 shares of the company's stock worth $51,181,000 after purchasing an additional 18,820 shares during the last quarter. Penserra Capital Management LLC lifted its position in McCormick & Company, Incorporated by 18.9% during the 1st quarter. Penserra Capital Management LLC now owns 4,943 shares of the company's stock worth $406,000 after buying an additional 784 shares in the last quarter. Chilton Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 13.7% during the 1st quarter. Chilton Capital Management LLC now owns 2,684 shares of the company's stock worth $221,000 after acquiring an additional 324 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in McCormick & Company, Incorporated by 19.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 7,059 shares of the company's stock valued at $581,000 after acquiring an additional 1,148 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of McCormick & Company, Incorporated in the first quarter worth about $30,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.7%

Shares of McCormick & Company, Incorporated stock traded down $0.52 during trading on Friday, hitting $71.92. 1,857,648 shares of the company were exchanged, compared to its average volume of 2,410,340. 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 firm has a market capitalization of $19.30 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 3.48 and a beta of 0.68. The firm's fifty day moving average price is $74.18 and its 200 day moving average price is $76.37. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.50%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Citigroup lowered their target price on 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. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $84.13.

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.