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

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

Several other institutional investors have also recently bought and sold shares of MKC. Norges Bank bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $223,202,000. Select Equity Group L.P. bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $104,863,000. Balyasny Asset Management L.P. increased its holdings in shares of McCormick & Company, Incorporated by 47.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after purchasing an additional 915,807 shares during the period. Northern Trust Corp increased its holdings in shares of McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after purchasing an additional 531,060 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of McCormick & Company, Incorporated by 88.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock worth $67,035,000 after purchasing an additional 412,074 shares during the period. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

NYSE:MKC traded down $0.02 on Monday, reaching $71.93. The stock had a trading volume of 1,847,721 shares, compared to its average volume of 2,069,570. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24. The stock has a fifty day moving average price of $74.10 and a 200-day moving average price of $76.31. The company has a market capitalization of $19.30 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 3.46 and a beta of 0.68. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

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. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business earned $0.69 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up 1.0% on a year-over-year basis. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

MKC has been the topic of several research reports. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. UBS Group started coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $84.13.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.80% of the stock is currently owned by company insiders.

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.