Atria Wealth Solutions Inc. raised its holdings in McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 9.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 16,292 shares of the company’s stock after acquiring an additional 1,343 shares during the period. Atria Wealth Solutions Inc.’s holdings in McCormick & Company, Incorporated were worth $1,156,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Baker Chad R lifted its holdings in shares of McCormick & Company, Incorporated by 90.7% during the 2nd quarter. Baker Chad R now owns 10,715 shares of the company’s stock worth $760,000 after acquiring an additional 5,095 shares during the period. Hall Laurie J Trustee lifted its position in McCormick & Company, Incorporated by 2,297.6% during the second quarter. Hall Laurie J Trustee now owns 29,970 shares of the company’s stock valued at $2,126,000 after buying an additional 28,720 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $3,688,000. KFG Wealth Management LLC grew its stake in McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after buying an additional 156 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter worth $29,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
McCormick & Company, Incorporated Trading Up 0.7 %
NYSE:MKC opened at $79.30 on Friday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $83.48. The business’s 50-day simple moving average is $73.75 and its 200 day simple moving average is $72.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 4.02 and a beta of 0.75.
McCormick & Company, Incorporated Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.
Insider Buying and Selling
In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 22.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on MKC shares. TD Cowen reduced their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.25.
Get Our Latest Stock Report on MKC
McCormick & Company, Incorporated Profile
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.
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