Oppenheimer Asset Management Inc. Has $337,000 Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Oppenheimer Asset Management Inc. lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 27.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,744 shares of the company’s stock after selling 1,757 shares during the period. Oppenheimer Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of McCormick & Company, Incorporated by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after acquiring an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in McCormick & Company, Incorporated by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after purchasing an additional 136,080 shares during the last quarter. ProShare Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after buying an additional 60,512 shares during the period. Nuance Investments LLC raised its position in shares of McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after acquiring an additional 99,741 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in McCormick & Company, Incorporated by 6.1% in the fourth quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock valued at $68,737,000 after buying an additional 57,839 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction dated 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 approximately $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.4 %

MKC opened at $82.99 on Friday. 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 capitalization of $22.29 billion, a P/E ratio of 30.29, a PEG ratio of 4.26 and a beta of 0.76. The company’s 50-day moving average is $78.70 and its 200 day moving average is $74.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a $0.42 dividend. 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 2.02%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. TD Cowen dropped 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, Citigroup raised 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 research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $77.38.

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.