State of Alaska Department of Revenue Has $2.99 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

State of Alaska Department of Revenue lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,930 shares of the company’s stock after purchasing an additional 795 shares during the period. State of Alaska Department of Revenue’s holdings in McCormick & Company, Incorporated were worth $2,991,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Tcwp LLC bought a new position in McCormick & Company, Incorporated during the first quarter worth $28,000. Western Pacific Wealth Management LP raised its stake in McCormick & Company, Incorporated by 50.0% during the first quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Riverview Trust Co bought a new position in McCormick & Company, Incorporated during the first quarter worth $31,000. Stonebridge Capital Advisors LLC bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $39,000. Finally, MCF Advisors LLC bought a new position in McCormick & Company, Incorporated during the first quarter worth $41,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 10,580 shares of the business’s stock in a transaction dated Wednesday, June 29th. The shares were 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 directly 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 at this hyperlink. 15.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TheStreet downgraded shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating for the company in a research note on Thursday, September 8th. Barclays decreased their price target on shares of McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Five equities research 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 a consensus price target of $93.25.

McCormick & Company, Incorporated Trading Down 0.8 %

NYSE:MKC 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 firm has a 50-day moving average of $85.18 and a 200-day moving average of $90.88. The company has a market cap of $20.57 billion, a PE ratio of 30.30, a PEG ratio of 5.47 and a beta of 0.51. 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 posted its earnings results on Wednesday, June 29th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.17). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 16.48% and a net margin of 10.78%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.65 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, July 11th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, July 8th. McCormick & Company, Incorporated’s payout ratio is presently 58.50%.

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.

See Also

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

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