Trillium Asset Management LLC Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Key Points

• Trillium Asset Management LLC increased its holdings in McCormick & Company, Incorporated by 14.6% in the first quarter, owning a total of 535,065 shares valued at approximately $44 million.
• McCormick reported a quarterly earnings per share of $0.69, exceeding estimates and showing a 1.0% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 2.6%.

Trillium Asset Management LLC increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 535,065 shares of the company's stock after buying an additional 68,219 shares during the period. McCormick & Company, Incorporated comprises 1.3% of Trillium Asset Management LLC's investment portfolio, making the stock its 16th largest holding. Trillium Asset Management LLC owned approximately 0.20% of McCormick & Company, Incorporated worth $44,041,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MKC. Zions Bancorporation National Association UT purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. increased its stake in McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after buying an additional 336 shares during the period. Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Finally, Stonebridge Financial Group LLC increased its stake in McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after buying an additional 202 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Citigroup lowered their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. UBS Group started coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They set a "neutral" rating and a $83.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on shares of 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 analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $83.00.

McCormick & Company, Incorporated Stock Down 0.7%

Shares of McCormick & Company, Incorporated stock traded down $0.51 during trading hours on Friday, hitting $69.68. The company had a trading volume of 1,677,092 shares, compared to its average volume of 2,286,712. The company's 50-day moving average is $72.79 and its two-hundred day moving average is $75.72. McCormick & Company, Incorporated has a twelve month low of $68.42 and a twelve month 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 $18.70 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 3.40 and a beta of 0.66.

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, beating the consensus estimate 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 analysts' expectations of $1.67 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

McCormick & Company, Incorporated 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.