Alliance Wealth Advisors LLC UT Grows Stake in McCormick & Company, Incorporated (NYSE:MKC)

Alliance Wealth Advisors LLC UT increased its holdings in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,790 shares of the company’s stock after acquiring an additional 1,085 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in McCormick & Company, Incorporated were worth $1,724,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. SVB Wealth LLC lifted its stake in shares of McCormick & Company, Incorporated by 3.0% in the first quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock worth $393,000 after acquiring an additional 114 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in shares of McCormick & Company, Incorporated by 2.1% in the second quarter. TrinityPoint Wealth LLC now owns 5,768 shares of the company’s stock worth $503,000 after acquiring an additional 117 shares in the last quarter. First National Trust Co lifted its stake in shares of McCormick & Company, Incorporated by 1.0% in the second quarter. First National Trust Co now owns 13,158 shares of the company’s stock worth $1,148,000 after acquiring an additional 125 shares in the last quarter. Signaturefd LLC lifted its stake in shares of McCormick & Company, Incorporated by 1.7% in the second quarter. Signaturefd LLC now owns 8,873 shares of the company’s stock worth $774,000 after acquiring an additional 145 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of McCormick & Company, Incorporated by 0.3% in the first quarter. Wellington Management Group LLP now owns 53,866 shares of the company’s stock worth $4,482,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 78.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MKC. Citigroup began coverage on McCormick & Company, Incorporated in a report on Thursday, February 1st. They issued a “sell” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Finally, Barclays lowered their price objective on McCormick & Company, Incorporated from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a 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 $73.50.

Check Out Our Latest Research Report on MKC

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $64.67 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.28 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $67.28 and a 200-day simple moving average of $71.46. The company has a market cap of $17.35 billion, a PE ratio of 25.65, a P/E/G ratio of 3.47 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.78 billion. McCormick & Company, Incorporated had a return on equity of 14.55% and a net margin of 10.22%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 2.82 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Friday, December 29th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, December 28th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a dividend yield of 2.60%. McCormick & Company, Incorporated’s payout ratio is currently 66.67%.

McCormick & Company, Incorporated Profile

(Free Report)

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.

Further Reading

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

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