McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,456 shares of the company’s stock after selling 1,497 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,245,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of McCormick & Company, Incorporated by 1.6% in the first quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company’s stock valued at $2,889,787,000 after purchasing an additional 462,997 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in McCormick & Company, Incorporated by 92,736.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock worth $478,334,000 after buying an additional 5,764,492 shares during the period. Geode Capital Management LLC boosted its stake in McCormick & Company, Incorporated by 2.7% during the second quarter. Geode Capital Management LLC now owns 5,552,255 shares of the company’s stock worth $483,106,000 after buying an additional 147,652 shares during the period. Franklin Resources Inc. boosted its stake in McCormick & Company, Incorporated by 0.4% during the second quarter. Franklin Resources Inc. now owns 4,895,873 shares of the company’s stock worth $427,067,000 after buying an additional 21,724 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in McCormick & Company, Incorporated by 6.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,563,547 shares of the company’s stock worth $223,618,000 after buying an additional 152,184 shares during the period. Hedge funds and other institutional investors own 78.15% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.8 %

Shares of NYSE:MKC opened at $64.65 on Friday. The firm’s 50 day moving average price is $67.28 and its 200 day moving average price is $71.59. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 3.47 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The company has a quick ratio of 0.28, a current ratio of 0.65 and a debt-to-equity ratio of 0.66.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last issued its earnings results on Thursday, January 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.06. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. McCormick & Company, Incorporated had a net margin of 10.22% and a return on equity of 14.55%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. As a group, 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. Investors of record on Friday, December 29th were issued a $0.42 dividend. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, December 28th. This represents a $1.68 annualized dividend and a yield of 2.60%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 66.67%.

Analyst Upgrades and Downgrades

MKC has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $74.00 to $71.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 16th. Finally, Citigroup initiated coverage on shares of McCormick & Company, Incorporated in a research note on Thursday, February 1st. They issued a “sell” rating and a $60.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $73.50.

Read Our Latest Stock Analysis on McCormick & Company, Incorporated

McCormick & Company, Incorporated 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.

Further Reading

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

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