NuWave Investment Management LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,489 shares of the company’s stock, valued at approximately $149,000.
Other hedge funds have also added to or reduced their stakes in the company. First National Bank of South Miami grew its holdings in shares of McCormick & Company, Incorporated by 843.8% in the fourth quarter. First National Bank of South Miami now owns 302 shares of the company’s stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $29,000. Lumature Wealth Partners LLC raised its position in shares of McCormick & Company, Incorporated by 65.3% in the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock worth $31,000 after buying an additional 128 shares in the last quarter. Missouri Trust & Investment Co purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $34,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $39,000. 74.86% of the stock is owned by institutional investors.
Shares of NYSE MKC opened at $83.45 on Thursday. The firm’s 50-day moving average price is $94.29 and its 200-day moving average price is $96.11. The company has a current ratio of 0.73, a quick ratio of 0.32 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 4.34 and a beta of 0.45. McCormick & Company, Incorporated has a 12-month low of $77.85 and a 12-month high of $107.35.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 25th. Stockholders of record on Monday, April 11th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $1.48 annualized dividend and a dividend yield of 1.77%. McCormick & Company, Incorporated’s payout ratio is 53.43%.
In other news, CFO Michael R. Smith sold 19,986 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $104.04, for a total value of $2,079,343.44. Following the sale, the chief financial officer now directly owns 93,025 shares in the company, valued at $9,678,321. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 15.90% of the company’s stock.
A number of brokerages have recently issued reports on MKC. Deutsche Bank Aktiengesellschaft reduced their price objective on McCormick & Company, Incorporated from $99.00 to $91.00 in a research note on Tuesday. StockNews.com initiated coverage on shares of McCormick & Company, Incorporated in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TheStreet lowered shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.00.
McCormick & Company, Incorporated Company 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.
- Get a free copy of the StockNews.com research report on McCormick & Company, Incorporated (MKC)
- Downturn Gives These 3 Buys Juicy Dividend Yields
- Victoria’s Secret Stock is Out of the Box
- Time For a Ride in Six Flags Stock
- Why Dollar General (NYSE: DG) Should Be In Your Portfolio
- Korn Ferry Is A Good Buy For The Recession And Beyond
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.