Citigroup Inc. Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Citigroup Inc. raised its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 63.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 272,818 shares of the company's stock after buying an additional 105,570 shares during the period. Citigroup Inc. owned about 0.10% of McCormick & Company, Incorporated worth $22,456,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $30,000. Salem Investment Counselors Inc. boosted its position in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after acquiring an additional 336 shares during the last quarter. Stonebridge Financial Group LLC boosted its position in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after acquiring an additional 202 shares during the last quarter. Ameriflex Group Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Finally, Parvin Asset Management LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Down 0.7%

MKC traded down $0.51 during trading hours on Friday, hitting $69.68. 1,709,848 shares of the company's stock were exchanged, compared to its average volume of 2,292,260. McCormick & Company, Incorporated has a 12-month low of $68.42 and a 12-month high of $86.24. The firm has a 50 day moving average of $72.79 and a 200 day moving average of $75.72. The firm has a market cap of $18.70 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 3.40 and a beta of 0.66. The company has a current ratio of 0.68, a quick ratio of 0.27 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 for the quarter, topping the consensus estimate 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 firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm earned $0.69 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MKC shares. Stifel Nicolaus lowered their price target on shares of 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. Citigroup decreased 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 report on Tuesday, June 17th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $83.00.

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.