McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Mathes Company Inc.

Mathes Company Inc. boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,902 shares of the company’s stock after acquiring an additional 1,750 shares during the period. Mathes Company Inc.’s holdings in McCormick & Company, Incorporated were worth $1,979,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MKC. Lindbrook Capital LLC boosted its holdings in shares of McCormick & Company, Incorporated by 16.5% during the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after purchasing an additional 134 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in 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 buying an additional 135 shares during the last quarter. HCR Wealth Advisors boosted its stake in McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after buying an additional 135 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after buying an additional 141 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC increased its stake in shares of McCormick & Company, Incorporated by 1.0% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was 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 directly owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America raised their target price on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, TD Cowen cut their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $77.38.

McCormick & Company, Incorporated Stock Down 0.7 %

Shares of NYSE:MKC opened at $83.90 on Thursday. The business has a 50-day moving average price of $78.23 and a 200 day moving average price of $74.18. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion during 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 company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued 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 (DPR) is 61.31%.

McCormick & Company, Incorporated Company 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.