Sonen Capital LLC Buys New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Sonen Capital LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKCGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,843 shares of the company’s stock, valued at approximately $383,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in McCormick & Company, Incorporated by 16.6% in the 1st quarter. SG Americas Securities LLC now owns 28,717 shares of the company’s stock valued at $2,866,000 after buying an additional 4,096 shares during the last quarter. AE Wealth Management LLC grew its holdings in McCormick & Company, Incorporated by 4.8% in the 1st quarter. AE Wealth Management LLC now owns 22,114 shares of the company’s stock valued at $2,207,000 after buying an additional 1,011 shares during the period. Park Avenue Securities LLC grew its holdings in McCormick & Company, Incorporated by 5.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,292 shares of the company’s stock valued at $229,000 after buying an additional 126 shares during the period. West Family Investments Inc. purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $481,000. Finally, JustInvest LLC grew its holdings in shares of McCormick & Company, Incorporated by 126.1% during the 4th quarter. JustInvest LLC now owns 14,039 shares of the company’s stock worth $1,356,000 after purchasing an additional 7,829 shares during the period. Institutional investors and hedge funds own 74.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MKC shares. Deutsche Bank Aktiengesellschaft decreased their price target on McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, TheStreet lowered McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $99.00.

McCormick & Company, Incorporated Stock Up 0.0 %

Shares of MKC traded up $0.04 during midday trading on Friday, reaching $88.33. 810,813 shares of the stock were exchanged, compared to its average volume of 1,105,181. McCormick & Company, Incorporated has a 12-month low of $77.85 and a 12-month high of $107.35. The firm has a 50 day simple moving average of $85.60 and a 200-day simple moving average of $94.04. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.85. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 5.49 and a beta of 0.50.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.17). The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 16.48% and a net margin of 10.78%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. Research analysts forecast that McCormick & Company, Incorporated will post 3.02 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, July 11th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Friday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is 58.50%.

Insider Activity

In other news, Director Margaret M. V. Preston sold 10,580 shares of the stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total transaction of $893,375.20. Following the transaction, the director now owns 12,660 shares of the company’s stock, valued at approximately $1,069,010.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Profile

(Get Rating)

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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