Kestra Private Wealth Services LLC Grows Stake in McCormick & Company, Incorporated (NYSE:MKC)

Kestra Private Wealth Services LLC increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,215 shares of the company’s stock after buying an additional 2,150 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in McCormick & Company, Incorporated were worth $1,084,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after buying an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $482,823,000 after buying an additional 54,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of McCormick & Company, Incorporated by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after buying an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after buying an additional 568,276 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after buying an additional 30,696 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Trading Up 0.9 %

Shares of McCormick & Company, Incorporated stock opened at $77.56 on Friday. The firm has a 50-day simple moving average of $76.63 and a two-hundred day simple moving average of $78.39. The company has a market cap of $20.80 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $64.43 and a fifty-two week high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a $0.45 dividend. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

McCormick & Company, Incorporated Company 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.