McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Capstone Triton Financial Group LLC

Capstone Triton Financial Group LLC boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,423 shares of the company’s stock after purchasing an additional 276 shares during the period. Capstone Triton Financial Group LLC’s holdings in McCormick & Company, Incorporated were worth $739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in shares of McCormick & Company, Incorporated by 87.5% during the second 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 purchased a new position in McCormick & Company, Incorporated in the second quarter valued at about $29,000. 1620 Investment Advisors Inc. acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $35,000. Farmers & Merchants Investments Inc. raised its position in shares of McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $67,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MKC shares. Bank of America lifted 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. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, TD Cowen cut their target price 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. One equities research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.38.

McCormick & Company, Incorporated Stock Down 0.4 %

MKC stock opened at $82.99 on Friday. The stock has a market cap of $22.29 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76. The firm’s 50-day simple moving average is $78.70 and its 200 day simple moving average is $74.35. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $0.69 EPS 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 firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.02%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction 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 sale, the director now owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.90% of the stock is currently owned by 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.