Northwest & Ethical Investments L.P. Acquires 7,938 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in McCormick & Company by 42.0%, acquiring an additional 7,938 shares during the first quarter, bringing its total to 26,848 shares valued at approximately $2.21 million.
• McCormick recently reported earnings of $0.69 per share, exceeding analysts' expectations, although its revenue of $1.66 billion was slightly below the consensus estimate of $1.67 billion.
• The company announced a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 and a yield of 2.6%.

Northwest & Ethical Investments L.P. raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 42.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 26,848 shares of the company's stock after acquiring an additional 7,938 shares during the period. Northwest & Ethical Investments L.P.'s holdings in McCormick & Company, Incorporated were worth $2,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFM Investors Pty Ltd increased its position in shares of McCormick & Company, Incorporated by 13.3% in the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock valued at $4,091,000 after buying an additional 5,829 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $260,000. Stratos Wealth Partners LTD. increased its position in shares of McCormick & Company, Incorporated by 5.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock valued at $7,267,000 after buying an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $988,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of McCormick & Company, Incorporated by 10.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company's stock valued at $3,464,000 after buying an additional 3,877 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Down 1.8%

McCormick & Company, Incorporated stock opened at $68.43 on Tuesday. The firm has a 50-day moving average of $72.56 and a 200-day moving average of $75.59. McCormick & Company, Incorporated has a one year low of $68.23 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 3.35 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business posted $0.69 EPS. The company's quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKC. 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. Citigroup lowered 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. Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Stifel Nicolaus lowered their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average price target of $83.00.

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.

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