McCormick & Company, Incorporated $MKC Shares Sold by TriaGen Wealth Management LLC

TriaGen Wealth Management LLC lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,200 shares of the company’s stock after selling 300 shares during the period. TriaGen Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,835,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Capital Analysts LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $28,000. Wayfinding Financial LLC purchased a new position in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $30,000. Salem Investment Counselors Inc. grew its position in shares of McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after buying an additional 336 shares in the last quarter. Finally, Stonebridge Financial Group LLC grew its position in shares of McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock worth $33,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $68.30 on Tuesday. The company’s fifty day moving average price is $68.95 and its 200 day moving average price is $72.74. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The firm has a market capitalization of $18.33 billion, a P/E ratio of 23.72, a P/E/G ratio of 3.42 and a beta of 0.63.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. McCormick & Company, Incorporated’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group reduced their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Citigroup reduced their price objective on shares of 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 downgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus dropped their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.29.

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.