Envestnet Asset Management Inc. Boosts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Envestnet Asset Management Inc. increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 621,806 shares of the company's stock after acquiring an additional 18,820 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of McCormick & Company, Incorporated worth $51,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Curio Wealth LLC purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth $30,000. Wayfinding Financial LLC bought a new stake in McCormick & Company, Incorporated in the first quarter worth $30,000. Salem Investment Counselors Inc. lifted its stake in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 336 shares during the last quarter. Twin Tree Management LP bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Finally, Ameriflex Group Inc. bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $33,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MKC has been the subject of several recent research reports. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target for the company. 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. Citigroup lowered their price target on shares of 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. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $84.13.

McCormick & Company, Incorporated Trading Down 0.7%

Shares of NYSE:MKC traded down $0.52 during midday trading on Friday, hitting $71.92. 1,857,648 shares of the stock traded hands, compared to its average volume of 2,070,461. The stock has a market capitalization of $19.30 billion, a PE ratio of 24.97, a P/E/G ratio of 3.46 and a beta of 0.68. The business's 50 day moving average is $74.10 and its two-hundred day moving average is $76.32. 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 has a one year low of $69.98 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for 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%. McCormick & Company, Incorporated's quarterly revenue 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, research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 23.80% of the company's stock.

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.