McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,396,411 shares of the company’s stock after selling 226,191 shares during the period. ProShare Advisors LLC owned 0.89% of McCormick & Company, Incorporated worth $170,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. HCR Wealth Advisors raised its holdings 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 worth $358,000 after acquiring an additional 689 shares during 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 valued at $6,881,000 after purchasing an additional 22,396 shares in the last quarter. Mitchell Sinkler & Starr PA acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $308,000. JARISLOWSKY FRASER Ltd boosted its stake in shares of McCormick & Company, Incorporated by 175.5% during 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 last quarter. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $706,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $82.99 on Friday. The company 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 firm’s 50 day moving average is $78.70 and its two-hundred day moving average is $74.39. 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 issued its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, topping 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction that occurred 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 owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on MKC shares. TD Cowen reduced 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. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, Bank of America raised their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.