King Luther Capital Management Corp Has $426,000 Holdings in McCormick & Company, Incorporated (NYSE:MKC)

King Luther Capital Management Corp lifted its holdings in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 34.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,118 shares of the company’s stock after acquiring an additional 1,318 shares during the period. King Luther Capital Management Corp’s holdings in McCormick & Company, Incorporated were worth $426,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Tcwp LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at about $28,000. Pinebridge Investments L.P. acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at about $29,000. Charter Oak Capital Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at about $37,000. MCF Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth about $41,000. Finally, Atticus Wealth Management LLC grew its stake in McCormick & Company, Incorporated by 78.6% during the second quarter. Atticus Wealth Management LLC now owns 500 shares of the company’s stock worth $42,000 after buying an additional 220 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on MKC. StockNews.com began coverage on shares of McCormick & Company, Incorporated in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Exane BNP Paribas began coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, November 15th. They set an “outperform” rating and a $94.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating on the stock in a research note on Thursday, September 8th. BNP Paribas began coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, November 15th. They set an “outperform” rating and a $94.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.50.

McCormick & Company, Incorporated Stock Down 0.0 %

MKC stock opened at $86.11 on Thursday. The stock has a market capitalization of $23.10 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 6.07 and a beta of 0.60. The company has a current ratio of 0.77, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. McCormick & Company, Incorporated has a 12 month low of $71.19 and a 12 month high of $107.35. The firm has a 50-day moving average price of $77.42 and a 200-day moving average price of $84.00.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its earnings results on Thursday, October 6th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. McCormick & Company, Incorporated had a net margin of 10.86% and a return on equity of 15.65%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.66 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Investors of record on Tuesday, October 11th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, October 7th. This represents a $1.48 dividend on an annualized basis and a yield of 1.72%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.81%.

Insider Activity at McCormick & Company, Incorporated

In related news, CEO Lawrence Erik Kurzius sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $74.41, for a total value of $372,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Lawrence Erik Kurzius sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $74.41, for a total value of $372,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brendan M. Foley sold 2,152 shares of the firm’s stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $160,582.24. Following the completion of the transaction, the chief operating officer now owns 702 shares of the company’s stock, valued at approximately $52,383.24. The disclosure for this sale can be found here. Insiders sold a total of 12,152 shares of company stock worth $942,632 in the last quarter. 15.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Profile

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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.

Further Reading

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

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