Mattern Capital Management LLC Boosts Position in McCormick & Company, Incorporated $MKC

Mattern Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,199 shares of the company’s stock after purchasing an additional 1,733 shares during the quarter. Mattern Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $7,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EagleClaw Capital Managment LLC lifted its position in shares of McCormick & Company, Incorporated by 0.4% in the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock valued at $3,018,000 after acquiring an additional 135 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 1.3% in the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock valued at $912,000 after acquiring an additional 146 shares in the last quarter. Signal Advisors Wealth LLC lifted its position in shares of McCormick & Company, Incorporated by 3.5% in the first quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company’s stock valued at $395,000 after acquiring an additional 163 shares in the last quarter. Raab & Moskowitz Asset Management LLC lifted its position in shares of McCormick & Company, Incorporated by 5.0% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock valued at $289,000 after acquiring an additional 167 shares in the last quarter. Finally, Horizon Investments LLC lifted its position in shares of McCormick & Company, Incorporated by 5.0% in the first quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock valued at $296,000 after acquiring an additional 173 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $68.16 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The firm has a market capitalization of $18.29 billion, a PE ratio of 23.67, a P/E/G ratio of 3.37 and a beta of 0.63. The business has a 50-day moving average of $69.07 and a two-hundred day moving average of $73.02.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

Several research firms recently commented on MKC. UBS Group dropped their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday. Citigroup dropped their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. Stifel Nicolaus dropped their target price 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. Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $80.29.

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.