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McCormick & Company, Incorporated (NYSE:MKC) Stake Lowered by Atria Wealth Solutions Inc.

McCormick & Company, Incorporated logo with Consumer Staples background

Atria Wealth Solutions Inc. cut its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 60.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,511 shares of the company's stock after selling 9,842 shares during the period. Atria Wealth Solutions Inc.'s holdings in McCormick & Company, Incorporated were worth $536,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EagleClaw Capital Managment LLC boosted its position in McCormick & Company, Incorporated by 0.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock worth $3,018,000 after purchasing an additional 135 shares during the period. Sage Capital Advisors llc boosted its position in McCormick & Company, Incorporated by 2.8% during the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after purchasing an additional 137 shares during the period. ST Germain D J Co. Inc. boosted its position in McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after purchasing an additional 140 shares during the period. Miracle Mile Advisors LLC boosted its position in McCormick & Company, Incorporated by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock worth $912,000 after purchasing an additional 146 shares during the period. Finally, Signal Advisors Wealth LLC boosted its position in McCormick & Company, Incorporated by 3.5% in the 1st quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company's stock valued at $395,000 after buying an additional 163 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on MKC. Citigroup decreased their price objective 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. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. UBS Group began coverage on shares of 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. Finally, Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.00.

Read Our Latest Research Report on McCormick & Company, Incorporated

McCormick & Company, Incorporated Stock Down 0.7%

McCormick & Company, Incorporated stock traded down $0.51 during midday trading on Friday, hitting $69.68. The stock had a trading volume of 1,709,848 shares, compared to its average volume of 2,027,929. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The stock has a market cap of $18.70 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.37 and a beta of 0.66. McCormick & Company, Incorporated has a 12 month low of $68.42 and a 12 month high of $86.24. The business has a fifty day moving average price of $72.69 and a 200 day moving average price of $75.67.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors 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 payout ratio is currently 62.50%.

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.

Further Reading

Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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