Ascent Group LLC Makes New $298,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Ascent Group LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,194 shares of the company’s stock, valued at approximately $298,000.

Several other large investors have also recently made changes to their positions in MKC. Allianz Asset Management GmbH raised its stake in shares of McCormick & Company, Incorporated by 27.0% in the fourth quarter. Allianz Asset Management GmbH now owns 38,107 shares of the company’s stock worth $2,607,000 after purchasing an additional 8,113 shares during the last quarter. California State Teachers Retirement System grew its holdings in McCormick & Company, Incorporated by 2.1% in the fourth quarter. California State Teachers Retirement System now owns 406,516 shares of the company’s stock valued at $27,814,000 after purchasing an additional 8,437 shares during the period. NEOS Investment Management LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $224,000. Peapack Gladstone Financial Corp grew its holdings in McCormick & Company, Incorporated by 13.5% in the fourth quarter. Peapack Gladstone Financial Corp now owns 54,987 shares of the company’s stock valued at $3,762,000 after purchasing an additional 6,557 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in McCormick & Company, Incorporated by 34.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 10,887 shares of the company’s stock valued at $745,000 after purchasing an additional 2,768 shares during the period. 79.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated 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 transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 22.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MKC has been the topic of several research analyst reports. 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 report on Wednesday, June 12th. Bank of America raised their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.14.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $84.07 on Wednesday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 4.24 and a beta of 0.76. 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 business’s 50 day moving average price is $80.05 and its 200 day moving average price is $75.15.

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 given a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.00%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

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.