McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Oak Thistle LLC

Oak Thistle LLC lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 61.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,293 shares of the company’s stock after selling 5,278 shares during the period. Oak Thistle LLC’s holdings in McCormick & Company, Incorporated were worth $234,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC increased its holdings in shares of McCormick & Company, Incorporated by 16.5% in the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after buying an additional 134 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of McCormick & Company, Incorporated by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after acquiring an additional 135 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after acquiring an additional 141 shares in the last quarter. Taylor Frigon Capital Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock worth $1,193,000 after acquiring an additional 156 shares in the last quarter. Finally, KFG Wealth Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.7 %

MKC stock opened at $83.81 on Wednesday. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $84.50. The company has a market cap of $22.51 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.76. The business’s 50-day simple moving average is $76.60 and its 200 day simple moving average is $73.56. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. On average, research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is 61.31%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MKC shares. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen lowered their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.25.

About McCormick & Company, Incorporated

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.