Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Sells 1,743 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,486 shares of the company’s stock after selling 1,743 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in McCormick & Company, Incorporated were worth $1,240,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC raised its holdings in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the second quarter worth $35,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated in the second quarter worth $39,000. Finally, Farmers & Merchants Investments Inc. boosted its stake in 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 buying an additional 228 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $84.07 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. The company has a 50 day moving average of $80.05 and a 200-day moving average of $75.15. 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 firm has a market cap of $22.58 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 4.24 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’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 transaction of $1,875,000.00. Following the transaction, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MKC shares. 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 research note on Monday, June 24th. Bank of America raised their price target on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus 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.