Mizuho Markets Americas LLC Trims Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Key Points

• Mizuho Markets Americas LLC reduced its holdings in McCormick & Company by 53.0%, selling 18,042 shares and now owning 16,001 shares valued at approximately $1.32 million.
• The company reported a quarterly EPS of $0.69, slightly beating analysts' estimates, with revenue reaching $1.66 billion.
• McCormick recently declared a quarterly dividend of $0.45 per share, yielding 2.6%, with a payout ratio of 62.50%.

Mizuho Markets Americas LLC lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 53.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,001 shares of the company's stock after selling 18,042 shares during the quarter. Mizuho Markets Americas LLC's holdings in McCormick & Company, Incorporated were worth $1,317,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $30,000. Salem Investment Counselors Inc. lifted its position in shares of McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after buying an additional 336 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Finally, Stonebridge Financial Group LLC lifted its position in shares of McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

MKC stock traded up $0.46 during midday trading on Wednesday, reaching $69.55. The stock had a trading volume of 218,431 shares, compared to its average volume of 2,279,520. The company's fifty day simple moving average is $72.89 and its 200 day simple moving average is $75.81. 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 company has a market cap of $18.66 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 3.35 and a beta of 0.66. McCormick & Company, Incorporated has a 52-week low of $68.42 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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 return on equity of 14.43% and a net margin of 11.50%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.69 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid 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 (DPR) is 62.50%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group assumed coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 target price on the stock. Citigroup decreased their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Stifel Nicolaus decreased their target price on 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. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.