McCormick & Company, Incorporated (NYSE:MKC) Holdings Decreased by Callan Family Office LLC

Callan Family Office LLC decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 39.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,810 shares of the company’s stock after selling 1,829 shares during the quarter. Callan Family Office LLC’s holdings in McCormick & Company, Incorporated were worth $231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MKC. IFM Investors Pty Ltd grew its stake in McCormick & Company, Incorporated by 13.3% in the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock valued at $4,091,000 after purchasing an additional 5,829 shares in the last quarter. Sowell Financial Services LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $260,000. Stratos Wealth Partners LTD. grew its stake in McCormick & Company, Incorporated by 5.7% in the first quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock valued at $7,267,000 after purchasing an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in McCormick & Company, Incorporated by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock valued at $3,464,000 after purchasing an additional 3,877 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $69.68 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $68.42 and a fifty-two week high of $86.24. The business has a 50-day moving average of $72.69 and a two-hundred day moving average of $75.67. The stock has a market capitalization of $18.70 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.37 and a beta of 0.66. 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 (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MKC. Citigroup lowered their target price on 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. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a “neutral” rating and a $83.00 target price on the stock. Finally, Stifel Nicolaus reduced their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $83.00.

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.