Intech Investment Management LLC Sells 341,207 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Intech Investment Management LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 84.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,016 shares of the company’s stock after selling 341,207 shares during the period. Intech Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $4,328,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. HCR Wealth Advisors grew its position in McCormick & Company, Incorporated by 15.2% in the 4th quarter. HCR Wealth Advisors now owns 5,236 shares of the company’s stock valued at $358,000 after acquiring an additional 689 shares during the last quarter. Mitchell Sinkler & Starr PA bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $308,000. JARISLOWSKY FRASER Ltd grew its holdings in shares of McCormick & Company, Incorporated by 175.5% in the fourth 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 last quarter. Focus Financial Network Inc. ADV purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $706,000. Finally, Allianz Asset Management GmbH lifted its holdings in McCormick & Company, Incorporated by 27.0% during the 4th quarter. Allianz Asset Management GmbH now owns 38,107 shares of the company’s stock valued at $2,607,000 after buying an additional 8,113 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction on 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 $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. 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 note on Wednesday, June 12th. Bank of America increased their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, 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 research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $77.38.

McCormick & Company, Incorporated Stock Down 0.4 %

McCormick & Company, Incorporated stock opened at $82.99 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. 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. The business has a fifty day moving average of $78.70 and a two-hundred day moving average of $74.39. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business posted $0.60 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid 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 dividend yield of 2.02%. 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.