McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 15.4% during the first quarter, Holdings Channel.com reports. The fund owned 20,219 shares of the company’s stock after selling 3,683 shares during the quarter. Mizuho Securities USA LLC’s holdings in McCormick & Company, Incorporated were worth $1,664,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its stake in McCormick & Company, Incorporated by 18.1% during the 1st quarter. Benjamin Edwards Inc. now owns 547,773 shares of the company’s stock worth $45,087,000 after purchasing an additional 83,936 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated during the 1st quarter worth $28,000. Townsquare Capital LLC boosted its stake in McCormick & Company, Incorporated by 4.5% during the 1st quarter. Townsquare Capital LLC now owns 82,337 shares of the company’s stock worth $6,777,000 after purchasing an additional 3,523 shares during the last quarter. Forsta AP Fonden boosted its stake in McCormick & Company, Incorporated by 12.6% during the 1st quarter. Forsta AP Fonden now owns 83,000 shares of the company’s stock worth $6,832,000 after purchasing an additional 9,300 shares during the last quarter. Finally, NS Partners Ltd boosted its stake in McCormick & Company, Incorporated by 1.1% during the 1st quarter. NS Partners Ltd now owns 257,585 shares of the company’s stock worth $21,202,000 after purchasing an additional 2,883 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a “neutral” rating and a $83.00 target price on the stock. Stifel Nicolaus lowered their target price on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.00.

McCormick & Company, Incorporated Stock Down 0.9%

NYSE MKC opened at $69.68 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $69.13 and a 52 week high of $86.24. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $72.98 and its 200-day simple moving average is $75.85. The firm has a market cap of $18.70 billion, a PE ratio of 24.20, a P/E/G ratio of 3.38 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. McCormick & Company, Incorporated’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated’s payout ratio is 62.50%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.