Mackenzie Financial Corp Has $3.16 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Mackenzie Financial Corp grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 44,530 shares of the company’s stock after purchasing an additional 1,499 shares during the period. Mackenzie Financial Corp’s holdings in McCormick & Company, Incorporated were worth $3,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its stake in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at about $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at about $35,000. Farmers & Merchants Investments Inc. increased its position in McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after acquiring an additional 228 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter worth about $67,000. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America upped their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.57.

Insider Activity

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $82.06 on Thursday. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $80.21 and its 200 day simple moving average is $75.20. The firm has a market capitalization of $22.04 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 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.