McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,462 shares of the company’s stock after selling 821 shares during the period. Dakota Wealth Management’s holdings in McCormick & Company, Incorporated were worth $4,400,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its holdings in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after buying an additional 7,898 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of McCormick & Company, Incorporated by 333.8% in the 1st quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after purchasing an additional 54,616 shares during the last quarter. Sei Investments Co. grew its holdings in shares of McCormick & Company, Incorporated by 11.8% during the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after purchasing an additional 16,420 shares during the period. Finally, Boston Trust Walden Corp raised its holdings in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after buying an additional 6,588 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $77.86 on Friday. McCormick & Company, Incorporated has a 1 year low of $62.54 and a 1 year high of $85.49. The stock has a market capitalization of $20.89 billion, a PE ratio of 26.48, a PEG ratio of 3.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a 50-day simple moving average of $81.14 and a 200-day simple moving average of $75.88.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.16%. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.57.

About McCormick & Company, Incorporated

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.