Atria Wealth Solutions Inc. Grows Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Atria Wealth Solutions Inc. raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) 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 (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

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.

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.