Amalgamated Bank Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Amalgamated Bank cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,069 shares of the company’s stock after selling 860 shares during the quarter. Amalgamated Bank’s holdings in McCormick & Company, Incorporated were worth $3,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% in 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 during the period. OFI Invest Asset Management purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Farmers & Merchants Investments Inc. boosted its position 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 acquiring an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in shares of McCormick & Company, Incorporated during the second quarter worth about $67,000. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on 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 sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $82.99 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a market cap of $22.29 billion, a PE ratio of 30.29, a PEG ratio of 4.26 and a beta of 0.76. The company’s fifty day moving average is $78.70 and its 200 day moving average is $74.43. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company posted $0.60 EPS. McCormick & Company, Incorporated’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Analyst Ratings Changes

MKC has been the topic of a number of recent analyst reports. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. TD Cowen dropped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, Bank of America increased their target price on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.14.

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.