Delaney Dennis R Acquires New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Delaney Dennis R bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 3,810 shares of the company’s stock, valued at approximately $270,000.

Other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after acquiring an additional 7,898 shares during the period. Ossiam lifted its holdings in McCormick & Company, Incorporated by 89.5% during the fourth quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after purchasing an additional 19,807 shares during the last quarter. Cetera Investment Advisers boosted its holdings in McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after buying an additional 31,306 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $430,000. Finally, SG Americas Securities LLC grew its holdings in McCormick & Company, Incorporated by 333.8% during the 1st quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after buying an additional 54,616 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MKC has been the topic of several research analyst reports. TD Cowen decreased their price objective 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. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.38.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $83.90 on Thursday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49. The company has a market cap of $22.54 billion, a P/E ratio of 30.62, a P/E/G ratio of 4.26 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 $78.23 and its 200-day moving average price is $74.18.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.00%. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.90% of the stock is currently owned by corporate insiders.

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.