McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 60.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,511 shares of the company’s stock after selling 9,842 shares during the period. Atria Wealth Solutions Inc.’s holdings in McCormick & Company, Incorporated were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Northern Trust Corp grew its holdings in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after acquiring an additional 531,060 shares during the period. Voya Investment Management LLC grew its holdings in McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company’s stock worth $269,060,000 after acquiring an additional 326,041 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in McCormick & Company, Incorporated by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company’s stock worth $245,114,000 after acquiring an additional 190,856 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in McCormick & Company, Incorporated by 1.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company’s stock worth $232,264,000 after acquiring an additional 43,353 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in McCormick & Company, Incorporated by 47.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company’s stock worth $216,771,000 after acquiring an additional 915,807 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 2.2%

Shares of NYSE:MKC opened at $70.64 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 52-week low of $68.42 and a 52-week high of $86.24. The stock’s fifty day simple moving average is $72.84 and its 200-day simple moving average is $75.77. The company has a market capitalization of $18.96 billion, a P/E ratio of 24.53, a P/E/G ratio of 3.32 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business earned $0.69 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. UBS Group began coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Stifel Nicolaus decreased their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.00.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.