AMI Asset Management Corp Sells 11,412 Shares of McCormick & Company, Incorporated (NYSE:MKC)

AMI Asset Management Corp reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 384,822 shares of the company’s stock after selling 11,412 shares during the quarter. AMI Asset Management Corp owned approximately 0.14% of McCormick & Company, Incorporated worth $31,671,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Integrated Advisors Network LLC lifted its holdings in McCormick & Company, Incorporated by 22.1% during the third quarter. Integrated Advisors Network LLC now owns 3,796 shares of the company’s stock worth $312,000 after acquiring an additional 686 shares during the period. Boston Financial Mangement LLC lifted its holdings in McCormick & Company, Incorporated by 10.5% during the third quarter. Boston Financial Mangement LLC now owns 8,120 shares of the company’s stock worth $668,000 after acquiring an additional 770 shares during the period. abrdn plc lifted its holdings in McCormick & Company, Incorporated by 3.2% during the third quarter. abrdn plc now owns 497,674 shares of the company’s stock worth $41,175,000 after acquiring an additional 15,429 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in McCormick & Company, Incorporated during the third quarter worth $223,000. Finally, State of Alaska Department of Revenue lifted its holdings in McCormick & Company, Incorporated by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 29,252 shares of the company’s stock worth $2,407,000 after acquiring an additional 1,985 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MKC shares. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen raised their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $77.48 on Wednesday. The stock has a market cap of $20.81 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77. McCormick & Company, Incorporated has a fifty-two week low of $62.72 and a fifty-two week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a fifty day moving average of $81.15 and a 200-day moving average of $75.98.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

About McCormick & Company, Incorporated

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.