McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,287 shares of the company's stock after buying an additional 4,771 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in McCormick & Company, Incorporated were worth $7,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $30,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. lifted its position in shares of McCormick & Company, Incorporated by 610.9% in the 1st 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 period. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Finally, Ameriflex Group Inc. bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded down $0.52 during trading hours on Friday, hitting $71.92. 1,857,648 shares of the company were exchanged, compared to its average volume of 2,070,461. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.46 and a beta of 0.68. McCormick & Company, Incorporated has a 52-week low of $69.98 and a 52-week 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's 50 day moving average price is $74.10 and its 200-day moving average price is $76.32.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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 revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated 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 transaction of $583,695.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.80% of the company's stock.

Analyst Ratings Changes

MKC has been the topic of several recent research reports. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. UBS Group initiated 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. 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. Finally, Citigroup cut their price objective 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 issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average 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.