Hsbc Holdings PLC Trims Position in McCormick & Company, Incorporated (NYSE:MKC)

Hsbc Holdings PLC decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 401,164 shares of the company’s stock after selling 42,309 shares during the quarter. Hsbc Holdings PLC owned approximately 0.15% of McCormick & Company, Incorporated worth $28,445,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. HCR Wealth Advisors lifted its position in shares of McCormick & Company, Incorporated by 15.2% in the fourth quarter. HCR Wealth Advisors now owns 5,236 shares of the company’s stock valued at $358,000 after acquiring an additional 689 shares in the last quarter. Intech Investment Management LLC lifted its holdings in McCormick & Company, Incorporated by 28.6% in the 4th quarter. Intech Investment Management LLC now owns 100,571 shares of the company’s stock worth $6,881,000 after purchasing an additional 22,396 shares in the last quarter. Mitchell Sinkler & Starr PA bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $308,000. JARISLOWSKY FRASER Ltd boosted its stake in McCormick & Company, Incorporated by 175.5% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 14,600 shares of the company’s stock worth $998,000 after purchasing an additional 9,300 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at approximately $706,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.4 %

MKC opened at $82.99 on Friday. The stock has a 50-day moving average of $78.70 and a 200 day moving average of $74.39. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $85.49. The firm has a market cap of $22.29 billion, a P/E ratio of 30.29, a P/E/G ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company 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. This represents a $1.68 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Wall Street Analysts Forecast Growth

MKC has been the topic of several research analyst reports. 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 report on Wednesday, June 12th. 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 report on Monday, June 24th. Finally, Bank of America raised their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.