Charles Schwab Investment Management Inc. Boosts Position in McCormick & Company, Incorporated (NYSE:MKC)

Charles Schwab Investment Management Inc. increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,543,063 shares of the company’s stock after purchasing an additional 33,600 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.58% of McCormick & Company, Incorporated worth $127,010,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. lifted its stake in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after buying an additional 336 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Stonebridge Financial Group LLC lifted its stake in McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock valued at $33,000 after buying an additional 202 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup reduced their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, July 29th. UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $83.00.

McCormick & Company, Incorporated Trading Down 0.9%

NYSE:MKC opened at $69.68 on Tuesday. The firm has a market cap of $18.70 billion, a P/E ratio of 24.20, a PEG ratio of 3.38 and a beta of 0.66. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $72.98 and its 200-day simple moving average is $75.85. McCormick & Company, Incorporated has a 12-month low of $69.13 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.50%.

McCormick & Company, Incorporated Company Profile

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.