Point72 DIFC Ltd Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Point72 DIFC Ltd bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 39,610 shares of the company’s stock, valued at approximately $2,810,000.

A number of other institutional investors have also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after buying an additional 7,898 shares in the last quarter. Ossiam boosted its holdings in McCormick & Company, Incorporated by 89.5% during the fourth quarter. Ossiam now owns 41,928 shares of the company’s stock worth $2,869,000 after purchasing an additional 19,807 shares during the last quarter. Cetera Investment Advisers grew its position in McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $430,000. Finally, SG Americas Securities LLC grew its stake in McCormick & Company, Incorporated by 333.8% in the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after purchasing an additional 54,616 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $83.19 on Tuesday. 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 fifty-two week low of $59.13 and a fifty-two week high of $85.49. The stock has a market cap of $22.35 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76. The stock has a fifty day moving average of $78.91 and a 200-day moving average of $74.53.

McCormick & Company, Incorporated (NYSE:MKC) last released 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. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction 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 transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.90% of the stock is currently 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.