McCormick & Company, Incorporated (NYSE:MKC) Position Reduced by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,896 shares of the company’s stock after selling 9,942 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in McCormick & Company, Incorporated were worth $1,802,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MKC. Point72 Asset Management L.P. boosted its stake in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the period. Nuance Investments LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter worth $73,160,000. Vanguard Group Inc. grew its holdings in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after buying an additional 883,327 shares in the last quarter. Marshall Wace LLP acquired a new position in McCormick & Company, Incorporated during the second quarter valued at $51,286,000. Finally, Millennium Management LLC lifted its stake in McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after acquiring an additional 386,320 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.03 on Friday. 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 firm has a market cap of $21.50 billion, a PE ratio of 29.21, a PEG ratio of 3.66 and a beta of 0.77. The firm’s 50 day moving average price is $80.96 and its 200 day moving average price is $75.80. McCormick & Company, Incorporated has a twelve month low of $59.45 and a twelve month high of $85.49.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

McCormick & Company, Incorporated Company 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.