Mirae Asset Global Investments Co. Ltd. Sells 338 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,245 shares of the company’s stock after selling 338 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $5,813,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Tcwp LLC bought a new position in shares of McCormick & Company, Incorporated in the first quarter valued at about $28,000. Western Pacific Wealth Management LP raised its holdings in shares of 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 buying an additional 100 shares during the last quarter. Riverview Trust Co bought a new position in shares of McCormick & Company, Incorporated in the first quarter valued at about $31,000. Stonebridge Capital Advisors LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $39,000. Finally, MCF Advisors LLC bought a new position in shares of McCormick & Company, Incorporated in the first quarter valued at about $41,000. 78.09% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $76.67 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market cap of $20.57 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 5.47 and a beta of 0.51. The stock has a 50-day moving average of $85.18 and a 200-day moving average of $90.88. McCormick & Company, Incorporated has a one year low of $76.62 and a one year 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 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.17). The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate 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 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. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 2.65 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, July 11th were paid a $0.37 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.93%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 58.50%.

Insider Activity

In related news, Director Margaret M. V. Preston sold 10,580 shares of the business’s 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 transaction, the director now directly owns 12,660 shares in the company, valued at approximately $1,069,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Company 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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