McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 44.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,728 shares of the company’s stock after buying an additional 5,443 shares during the quarter. Acadian Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its holdings in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated in the second quarter valued at $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the second quarter valued at $35,000. Farmers & Merchants Investments Inc. boosted its holdings in McCormick & Company, Incorporated by 40.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares during the period. Finally, Hantz Financial Services Inc. purchased a new position in McCormick & Company, Incorporated in the second quarter valued at $67,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MKC shares. TD Cowen decreased their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. One investment 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. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $76.25.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Up 0.7 %

McCormick & Company, Incorporated stock opened at $83.76 on Monday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $84.50. 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 has a market capitalization of $22.50 billion, a P/E ratio of 30.57, a PEG ratio of 4.26 and a beta of 0.76. The stock has a 50-day simple moving average of $77.38 and a 200-day simple moving average of $73.89.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

About McCormick & Company, Incorporated

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.