Reik & CO. LLC decreased its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 457,185 shares of the company's stock after selling 5,883 shares during the period. McCormick & Company, Incorporated comprises 8.8% of Reik & CO. LLC's portfolio, making the stock its 4th largest holding. Reik & CO. LLC owned 0.17% of McCormick & Company, Incorporated worth $37,631,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after purchasing an additional 137,679 shares in the last quarter. Northern Trust Corp increased its position in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after purchasing an additional 531,060 shares during the last quarter. Voya Investment Management LLC increased its position in McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock worth $269,060,000 after purchasing an additional 326,041 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock worth $245,114,000 after acquiring an additional 190,856 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of McCormick & Company, Incorporated by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company's stock worth $232,264,000 after acquiring an additional 43,353 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.
Analysts Set New Price Targets
MKC has been the subject of several recent research reports. 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. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective on the stock. Finally, Citigroup reduced their price target on shares of 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $84.13.
Read Our Latest Analysis on MKC
McCormick & Company, Incorporated Stock Performance
Shares of MKC stock traded up $1.03 during trading hours on Monday, reaching $72.60. The stock had a trading volume of 649,276 shares, compared to its average volume of 2,299,236. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. McCormick & Company, Incorporated has a twelve month low of $69.98 and a twelve month high of $86.24. The firm has a 50-day simple moving average of $73.37 and a 200-day simple moving average of $76.04. The firm has a market capitalization of $19.48 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 3.44 and a beta of 0.68.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm 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 last year, the company earned $0.69 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
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 $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.48%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.
Insider Activity
In other news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated 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 legal filing with the SEC, which is available at this link. 23.80% of the stock is owned by corporate insiders.
McCormick & Company, Incorporated Profile
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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.
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