Vanguard Personalized Indexing Management LLC Purchases 2,469 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Vanguard Personalized Indexing Management LLC lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 13.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,863 shares of the company’s stock after buying an additional 2,469 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,480,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen decreased their price objective 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 target price on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.38.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $82.99 on Friday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $85.49. 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 company’s fifty day moving average price is $78.70 and its 200 day moving average price is $74.39. The company has a market capitalization of $22.29 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, research analysts predict 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. Stockholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the 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 owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 22.90% of the company’s stock.

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.