Waterloo Capital L.P. Increases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Waterloo Capital L.P. boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 78.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,553 shares of the company’s stock after acquiring an additional 2,445 shares during the quarter. Waterloo Capital L.P.’s holdings in McCormick & Company, Incorporated were worth $394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC increased its position in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $35,000. Farmers & Merchants Investments Inc. boosted its stake in shares of McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after buying an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth approximately $67,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

McCormick & Company, Incorporated Trading Down 0.7 %

NYSE MKC opened at $83.35 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The company has a 50-day simple moving average of $78.47 and a 200-day simple moving average of $74.25. The firm has a market capitalization of $22.39 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company 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%. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is presently 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.