Victory Capital Management Inc. Raises Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Victory Capital Management Inc. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,334 shares of the company's stock after purchasing an additional 13,051 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of McCormick & Company, Incorporated worth $18,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MKC. Savvy Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth $466,000. IFM Investors Pty Ltd raised its stake in McCormick & Company, Incorporated by 13.3% in the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock worth $4,091,000 after acquiring an additional 5,829 shares during the last quarter. Sowell Financial Services LLC purchased a new position in McCormick & Company, Incorporated in the 1st quarter worth $260,000. Somerville Kurt F raised its stake in McCormick & Company, Incorporated by 34.2% in the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company's stock worth $7,325,000 after acquiring an additional 24,467 shares during the last quarter. Finally, Dempze Nancy E raised its stake in McCormick & Company, Incorporated by 28.4% in the 4th quarter. Dempze Nancy E now owns 26,337 shares of the company's stock worth $2,008,000 after acquiring an additional 5,833 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

MKC stock traded up $0.17 during mid-day trading on Friday, reaching $71.62. 1,974,295 shares of the company's stock were exchanged, compared to its average volume of 2,201,190. 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 12-month low of $69.98 and a 12-month high of $86.24. The stock's 50 day moving average is $73.37 and its 200 day moving average is $76.03. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 3.44 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The business's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced 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. 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 2.51%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction dated 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 document filed with the SEC, which is available through this link. 23.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MKC has been the subject of a number of research analyst reports. UBS Group began coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Citigroup reduced their price target on 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $84.13.

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.