Brown Advisory Inc. grew its position in McCormick & Company (NYSE:MKC) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,672 shares of the company’s stock after acquiring an additional 6,289 shares during the period. Brown Advisory Inc. owned about 0.08% of McCormick & Company worth $11,561,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MKC. Mount Yale Investment Advisors LLC acquired a new stake in shares of McCormick & Company in the first quarter valued at about $450,000. Chesapeake Wealth Management acquired a new stake in shares of McCormick & Company in the first quarter valued at about $225,000. Diversified Trust Co acquired a new stake in shares of McCormick & Company in the first quarter valued at about $225,000. Suntrust Banks Inc. lifted its stake in shares of McCormick & Company by 13.1% in the first quarter. Suntrust Banks Inc. now owns 15,398 shares of the company’s stock valued at $1,636,000 after purchasing an additional 1,787 shares during the period. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of McCormick & Company in the first quarter valued at about $192,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of McCormick & Company opened at $115.68 on Tuesday, according to MarketBeat. The company has a quick ratio of 0.42, a current ratio of 0.85 and a debt-to-equity ratio of 1.47. The stock has a market cap of $15.22 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.62 and a beta of 0.56. McCormick & Company has a 12-month low of $90.25 and a 12-month high of $117.82.
McCormick & Company (NYSE:MKC) last announced its earnings results on Thursday, June 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. McCormick & Company had a net margin of 15.83% and a return on equity of 21.98%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. research analysts anticipate that McCormick & Company will post 4.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 23rd. Shareholders of record on Monday, July 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, July 6th. McCormick & Company’s payout ratio is currently 48.83%.
Several brokerages recently commented on MKC. Credit Suisse Group raised their price objective on shares of McCormick & Company from $120.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, March 28th. Zacks Investment Research upgraded shares of McCormick & Company from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. ValuEngine upgraded shares of McCormick & Company from a “hold” rating to a “buy” rating in a research note on Monday. Vertical Group cut shares of McCormick & Company from a “buy” rating to a “hold” rating in a research note on Friday. They noted that the move was a valuation call. Finally, Citigroup raised their price objective on shares of McCormick & Company from $114.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. McCormick & Company has a consensus rating of “Hold” and a consensus target price of $114.25.
In other McCormick & Company news, Director Alan D. Wilson sold 158,600 shares of McCormick & Company stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the completion of the transaction, the director now owns 212,894 shares in the company, valued at $23,418,340. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.20% of the company’s stock.
McCormick & Company Company Profile
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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