Ameritas Investment Partners Inc. Buys 1,177 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Ameritas Investment Partners Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,291 shares of the company’s stock after purchasing an additional 1,177 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in McCormick & Company, Incorporated were worth $3,071,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MKC. Capital Advisors Ltd. LLC raised its holdings in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. OFI Invest Asset Management acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $35,000. Farmers & Merchants Investments Inc. increased its stake in shares of McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after purchasing an additional 228 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $67,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen lowered their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Finally, Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $77.38.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of 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. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49. The company has a market capitalization of $22.29 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 4.26 and a beta of 0.76. The firm’s 50-day moving average price is $78.70 and its two-hundred day moving average price is $74.39.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.02%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated 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.