Ameriflex Group Inc. Has $71,000 Holdings in McCormick & Company, Incorporated $MKC

Ameriflex Group Inc. lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 115.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 920 shares of the company’s stock after buying an additional 492 shares during the quarter. Ameriflex Group Inc.’s holdings in McCormick & Company, Incorporated were worth $71,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. raised its holdings in shares of McCormick & Company, Incorporated by 610.9% in the 1st 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 raised its holdings in shares of McCormick & Company, Incorporated by 101.0% in the 1st 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. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MKC has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their price target on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Stifel Nicolaus decreased their price target 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. Wall Street Zen lowered McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. UBS Group decreased their price target on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Finally, Citigroup decreased their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $80.29.

McCormick & Company, Incorporated Stock Up 1.2%

Shares of MKC opened at $68.92 on Monday. The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 3.42 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The business’s fifty day moving average price is $69.02 and its two-hundred day moving average price is $72.82. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24.

McCormick & Company, Incorporated Dividend Announcement

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