Amalgamated Bank Has $4.93 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Amalgamated Bank increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 2.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 65,110 shares of the company’s stock after purchasing an additional 1,796 shares during the period. Amalgamated Bank’s holdings in McCormick & Company, Incorporated were worth $4,925,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Milestone Investment Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $47,000. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $2,299,000. Western Wealth Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 4.8% in the 3rd quarter. Western Wealth Management LLC now owns 11,242 shares of the company’s stock valued at $850,000 after acquiring an additional 512 shares in the last quarter. EagleClaw Capital Managment LLC raised its holdings in shares of McCormick & Company, Incorporated by 3.3% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 22,050 shares of the company’s stock valued at $1,668,000 after acquiring an additional 710 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 111.9% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 6,353 shares of the company’s stock valued at $481,000 after acquiring an additional 3,355 shares in the last quarter. Hedge funds and other institutional investors own 78.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MKC shares. Citigroup assumed coverage on McCormick & Company, Incorporated in a report on Thursday, February 1st. They set a “sell” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Barclays reduced their price target on McCormick & Company, Incorporated from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 16th. Finally, Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $73.50.

Get Our Latest Report on MKC

McCormick & Company, Incorporated Trading Down 2.1 %

MKC opened at $65.62 on Thursday. The stock has a market cap of $17.60 billion, a PE ratio of 26.04, a PEG ratio of 3.59 and a beta of 0.75. The company has a quick ratio of 0.28, a current ratio of 0.65 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $67.29 and a 200-day moving average of $71.80. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last released its earnings results on Thursday, January 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.78 billion. McCormick & Company, Incorporated had a return on equity of 14.55% and a net margin of 10.22%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 2.82 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Friday, December 29th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.39. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 66.67%.

McCormick & Company, Incorporated Company Profile

(Free Report)

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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