The Cornerstone Wealth Management LLC Purchases Shares of 3,151 McCormick & Company, Incorporated (MKC)

The Cornerstone Wealth Management LLC Purchases Shares of 3,151 McCormick & Company, Incorporated (MKC)

Cornerstone Wealth Management LLC purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, Holdings Channel reports. The fund purchased 3,151 shares of the company’s stock, valued at approximately $304,000.

Several other large investors have also recently added to or reduced their stakes in MKC. Robeco Institutional Asset Management B.V. boosted its stake in McCormick & Company, by 34.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 193,081 shares of the company’s stock valued at $20,595,000 after buying an additional 49,976 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in McCormick & Company, by 151.2% in the second quarter. Meeder Asset Management Inc. now owns 1,575 shares of the company’s stock valued at $169,000 after buying an additional 948 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in McCormick & Company, by 522.2% in the second quarter. Daiwa Securities Group Inc. now owns 16,800 shares of the company’s stock valued at $1,792,000 after buying an additional 14,100 shares in the last quarter. MSI Financial Services Inc boosted its stake in McCormick & Company, by 29.9% in the second quarter. MSI Financial Services Inc now owns 10,288 shares of the company’s stock valued at $1,097,000 after buying an additional 2,366 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in McCormick & Company, during the second quarter valued at about $17,132,000. 72.29% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated (NYSE:MKC) traded up 0.41% during mid-day trading on Wednesday, hitting $93.06. 465,295 shares of the stock were exchanged. The company has a 50 day moving average price of $91.94 and a 200 day moving average price of $96.83. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 25.69 and a beta of 0.47. McCormick & Company, Incorporated has a 52 week low of $78.55 and a 52 week high of $107.84.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, December 28th. This is an increase from McCormick & Company,’s previous quarterly dividend of $0.43. McCormick & Company,’s payout ratio is presently 51.93%.

Several equities research analysts recently issued reports on MKC shares. Zacks Investment Research raised shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Monday, November 21st. Deutsche Bank AG decreased their target price on shares of McCormick & Company, from $113.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, September 23rd. Bank of America Corporation started coverage on shares of McCormick & Company, in a research report on Tuesday, December 6th. They issued a “buy” rating and a $100.00 target price on the stock. Jefferies Group decreased their target price on shares of McCormick & Company, from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, November 30th. Finally, Credit Suisse Group raised shares of McCormick & Company, from a “neutral” rating to an “outperform” rating and set a $111.00 target price on the stock in a research report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. McCormick & Company, currently has a consensus rating of “Hold” and an average price target of $99.54.

McCormick & Company, Company Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

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