McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by XTX Topco Ltd

XTX Topco Ltd reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 29.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,509 shares of the company’s stock after selling 4,014 shares during the quarter. XTX Topco Ltd’s holdings in McCormick & Company, Incorporated were worth $675,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MKC. Lindbrook Capital LLC lifted its holdings in shares of McCormick & Company, Incorporated by 16.5% in the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after buying an additional 134 shares during the period. State of Alaska Department of Revenue lifted its holdings in McCormick & Company, Incorporated by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock valued at $2,094,000 after acquiring an additional 135 shares during the last quarter. HCR Wealth Advisors boosted its position in shares of McCormick & Company, Incorporated by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after purchasing an additional 135 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after purchasing an additional 141 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC lifted its stake in McCormick & Company, Incorporated by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock valued at $1,193,000 after purchasing an additional 156 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on MKC. Bank of America raised their target price on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. TD Cowen reduced their price objective 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. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $82.99 on Monday. The company has a market capitalization of $22.29 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. 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 stock’s fifty day simple moving average is $78.70 and its 200-day simple moving average is $74.43.

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 the consensus estimate of $0.59 by $0.10. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a yield of 2.02%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on 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 sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 22.90% of the company’s stock.

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.