Diversify Wealth Management LLC increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,117 shares of the company’s stock after purchasing an additional 1,768 shares during the period. Diversify Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,200,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of MKC. Capital Advisors Ltd. LLC boosted its stake in McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $39,000. Finally, Friedenthal Financial acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.
McCormick & Company, Incorporated Stock Performance
Shares of MKC opened at $77.99 on Thursday. The company has a 50-day simple moving average of $81.13 and a 200-day simple moving average of $76.00. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $20.95 billion, a PE ratio of 28.46, a P/E/G ratio of 3.62 and a beta of 0.77. McCormick & Company, Incorporated has a 52-week low of $63.28 and a 52-week high of $85.49.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America raised their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.57.
Check Out Our Latest Analysis on MKC
About McCormick & Company, Incorporated
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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