Elo Mutual Pension Insurance Co Has $1.67 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Elo Mutual Pension Insurance Co raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,514 shares of the company’s stock after buying an additional 2,696 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in McCormick & Company, Incorporated were worth $1,668,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its holdings in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after acquiring an additional 7,898 shares during the period. Ossiam boosted its position in McCormick & Company, Incorporated by 89.5% in the fourth quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after buying an additional 19,807 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of McCormick & Company, Incorporated by 470.6% during the first 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 last quarter. Blueshift Asset Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $430,000. Finally, SG Americas Securities LLC lifted its stake in shares of McCormick & Company, Incorporated by 333.8% in the 1st quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after acquiring an additional 54,616 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.4 %

MKC opened at $82.99 on Friday. The stock has a market cap of $22.29 billion, a PE ratio of 30.29, a P/E/G ratio of 4.26 and a beta of 0.76. 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 has a 52 week low of $59.13 and a 52 week high of $85.49. The business’s fifty day simple moving average is $78.70 and its 200 day simple moving average is $74.35.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly 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 analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.42 dividend. The ex-dividend date was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.02%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen reduced their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.38.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value 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 SEC, which is available through this hyperlink. 22.90% of the stock is owned by company insiders.

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.