Bokf Na Sells 304 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bokf Na reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,460 shares of the company’s stock after selling 304 shares during the quarter. Bokf Na’s holdings in McCormick & Company, Incorporated were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Investment Counsel Inc. lifted its stake in shares of McCormick & Company, Incorporated by 8.5% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 27,901 shares of the company’s stock valued at $1,979,000 after buying an additional 2,195 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of McCormick & Company, Incorporated by 98.0% in the second quarter. American Century Companies Inc. now owns 46,543 shares of the company’s stock worth $3,302,000 after acquiring an additional 23,033 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of McCormick & Company, Incorporated by 29.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,141 shares of the company’s stock worth $152,000 after purchasing an additional 492 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $1,477,000. Finally, Coldstream Capital Management Inc. raised its stake in McCormick & Company, Incorporated by 9.3% during the 2nd quarter. Coldstream Capital Management Inc. now owns 8,736 shares of the company’s stock valued at $620,000 after purchasing an additional 740 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 completion of the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.2 %

MKC stock opened at $84.76 on Tuesday. The firm has a fifty day moving average price of $77.69 and a 200 day moving average price of $74.00. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49. The firm has a market cap of $22.77 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76. 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 (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping 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 business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $0.60 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were given a dividend of $0.42 per share. 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 1.98%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Analysts Set New Price Targets

Several research analysts have weighed in on MKC shares. TD Cowen dropped their price target 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. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $69.00 in a research 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 given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.25.

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.