McCormick & Company, Incorporated $MKC Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 348,944 shares of the company’s stock after selling 13,854 shares during the quarter. AMI Asset Management Corp’s holdings in McCormick & Company, Incorporated were worth $26,457,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MKC. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. increased its stake in McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after buying an additional 336 shares in the last quarter. Finally, Stonebridge Financial Group LLC increased its stake in McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock worth $33,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

MKC has been the subject of several research reports. Stifel Nicolaus cut their price objective on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, July 29th. Wall Street Zen lowered McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group dropped their price target on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Citigroup dropped their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average target price of $80.29.

McCormick & Company, Incorporated Trading Up 1.3%

Shares of McCormick & Company, Incorporated stock opened at $67.80 on Thursday. The firm has a market capitalization of $18.19 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 3.32 and a beta of 0.63. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a 50 day moving average of $69.14 and a 200 day moving average of $73.12.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.50%.

McCormick & Company, Incorporated 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.