Victory Capital Management Inc. Boosts Position in McCormick & Company, Incorporated (NYSE:MKC)

Victory Capital Management Inc. lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 20.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 246,454 shares of the company’s stock after acquiring an additional 42,657 shares during the period. Victory Capital Management Inc. owned 0.09% of McCormick & Company, Incorporated worth $24,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MKC. Western Pacific Wealth Management LP raised its holdings in McCormick & Company, Incorporated by 50.0% in the 1st quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Smith Shellnut Wilson LLC ADV increased its stake in McCormick & Company, Incorporated by 2.3% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 4,606 shares of the company’s stock worth $445,000 after purchasing an additional 102 shares during the period. CAPROCK Group Inc. increased its stake in McCormick & Company, Incorporated by 2.1% during the first quarter. CAPROCK Group Inc. now owns 5,876 shares of the company’s stock worth $586,000 after purchasing an additional 122 shares during the period. Park Avenue Securities LLC increased its stake in McCormick & Company, Incorporated by 5.8% during the first quarter. Park Avenue Securities LLC now owns 2,292 shares of the company’s stock worth $229,000 after purchasing an additional 126 shares during the period. Finally, Palladium Partners LLC increased its stake in McCormick & Company, Incorporated by 5.2% during the first quarter. Palladium Partners LLC now owns 2,560 shares of the company’s stock worth $255,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 74.86% of the company’s stock.

Analyst Ratings Changes

MKC has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. TheStreet downgraded McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Finally, Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.00.

Insider Activity

In other news, Director Margaret M. V. Preston sold 10,580 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total value of $893,375.20. Following the completion of the sale, the director now directly owns 12,660 shares of the company’s stock, valued at $1,069,010.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $88.41 on Thursday. The stock has a 50 day moving average price of $85.77 and a 200 day moving average price of $94.16. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 5.46 and a beta of 0.50. McCormick & Company, Incorporated has a 52-week low of $77.85 and a 52-week high of $107.35.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.17). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Research analysts predict that McCormick & Company, Incorporated will post 3.02 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, July 11th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, July 8th. McCormick & Company, Incorporated’s payout ratio is currently 58.50%.

About McCormick & Company, Incorporated

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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.

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

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