McCormick & Company, Incorporated (NYSE:MKC) Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 621,806 shares of the company's stock after purchasing an additional 18,820 shares during the period. Envestnet Asset Management Inc. owned 0.23% of McCormick & Company, Incorporated worth $51,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. Proficio Capital Partners LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $10,102,000. AlphaQuest LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $298,000. Moors & Cabot Inc. grew its holdings in shares of McCormick & Company, Incorporated by 14.6% during the fourth quarter. Moors & Cabot Inc. now owns 3,844 shares of the company's stock worth $293,000 after buying an additional 490 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of McCormick & Company, Incorporated by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company's stock valued at $427,000 after buying an additional 169 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 12.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company's stock valued at $157,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm'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 value of $583,695.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Up 0.9%

NYSE:MKC traded up $0.62 during trading hours on Wednesday, hitting $71.37. The stock had a trading volume of 1,839,591 shares, compared to its average volume of 2,338,283. The company has a market cap of $19.15 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 3.46 and a beta of 0.68. The business has a 50 day simple moving average of $73.95 and a two-hundred day simple moving average of $76.24. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24. 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 released its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the business earned $0.69 EPS. The business's revenue was up 1.0% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a $0.45 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.52%. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group began 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 for the company. Citigroup lowered their price objective on 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. Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One investment 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 company. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus target price 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.