Alliance Wealth Advisors LLC UT Purchases 1,085 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Alliance Wealth Advisors LLC UT lifted its stake in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 5.0% in the third quarter, HoldingsChannel.com reports. The firm owned 22,790 shares of the company’s stock after purchasing an additional 1,085 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in McCormick & Company, Incorporated were worth $1,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Qsemble Capital Management LP bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $1,544,000. Jennison Associates LLC bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $6,800,000. Robeco Institutional Asset Management B.V. boosted its stake in McCormick & Company, Incorporated by 151.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 69,805 shares of the company’s stock valued at $5,280,000 after acquiring an additional 42,078 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in McCormick & Company, Incorporated by 182.7% in the third quarter. Teacher Retirement System of Texas now owns 53,618 shares of the company’s stock valued at $4,056,000 after acquiring an additional 34,651 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in McCormick & Company, Incorporated by 14.2% in the third quarter. Victory Capital Management Inc. now owns 161,203 shares of the company’s stock valued at $12,193,000 after acquiring an additional 20,022 shares during the last quarter. Institutional investors and hedge funds own 78.15% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $64.67 on Monday. The company’s 50 day moving average price is $67.28 and its two-hundred day moving average price is $71.46. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The firm has a market cap of $17.35 billion, a PE ratio of 25.65, a PEG ratio of 3.47 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.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates 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 for the quarter was up 3.4% on a year-over-year basis. 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 year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Friday, December 29th were given a dividend of $0.42 per share. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.60%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 66.67%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MKC shares. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Citigroup initiated coverage on shares of McCormick & Company, Incorporated in a research report on Thursday, February 1st. They set a “sell” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of 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. Finally, Barclays reduced their price target on shares of 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.50.

Get Our Latest Report on MKC

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.

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

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