McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,787 shares of the company’s stock after selling 4,365 shares during the period. Amalgamated Bank’s holdings in McCormick & Company, Incorporated were worth $6,266,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Western Pacific Wealth Management LP grew its holdings in McCormick & Company, Incorporated by 50.0% in the first quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. ICW Investment Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 0.5% in the first quarter. ICW Investment Advisors LLC now owns 19,203 shares of the company’s stock valued at $1,916,000 after acquiring an additional 103 shares in the last quarter. B. Riley Wealth Management Inc. lifted its position in shares of McCormick & Company, Incorporated by 3.6% in the first quarter. B. Riley Wealth Management Inc. now owns 3,257 shares of the company’s stock valued at $325,000 after acquiring an additional 112 shares in the last quarter. SVB Wealth LLC lifted its position 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 valued at $393,000 after acquiring an additional 114 shares in the last quarter. Finally, Renasant Bank lifted its position in shares of McCormick & Company, Incorporated by 4.6% in the first quarter. Renasant Bank now owns 2,662 shares of the company’s stock valued at $266,000 after acquiring an additional 116 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $79.14 on Monday. McCormick & Company, Incorporated has a one year low of $77.67 and a one year high of $107.35. The company has a market cap of $21.23 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 5.60 and a beta of 0.51. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.74. The business’s 50 day moving average price is $85.58 and its 200 day moving average price is $91.49.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last announced its quarterly earnings data on Wednesday, June 29th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.17). McCormick & Company, Incorporated had a return on equity of 16.48% and a net margin of 10.78%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts predict that McCormick & Company, Incorporated will post 2.65 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, July 11th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, July 8th. This represents a $1.48 annualized dividend and a yield of 1.87%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 58.50%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MKC. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. TheStreet downgraded McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft decreased their target price on McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating on the stock in a research report on Thursday, September 8th. Finally, Barclays decreased their target price on McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.25.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 10,580 shares of the firm’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total transaction of $893,375.20. Following the completion of the sale, the director now owns 12,660 shares of the company’s stock, valued at $1,069,010.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Profile

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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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