Skandinaviska Enskilda Banken AB publ Raises Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Skandinaviska Enskilda Banken AB publ boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,141 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in McCormick & Company, Incorporated were worth $3,841,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its position in McCormick & Company, Incorporated by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after buying an additional 7,898 shares during the period. Ossiam grew its holdings in McCormick & Company, Incorporated by 89.5% in the 4th quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after buying an additional 19,807 shares during the period. Cetera Investment Advisers raised its holdings in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares during the period. Blueshift Asset Management LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $430,000. Finally, SG Americas Securities LLC boosted its stake in shares of McCormick & Company, Incorporated by 333.8% in the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after purchasing an additional 54,616 shares during the period. Institutional investors and hedge funds 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 the business’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 transaction of $1,875,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.4 %

Shares of McCormick & Company, Incorporated stock opened at $82.99 on Monday. The business has a fifty day simple moving average of $78.70 and a 200 day simple moving average of $74.43. The stock has a market cap of $22.29 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76. 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.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. Research analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Analyst Ratings Changes

Several research firms have recently commented on MKC. TD Cowen reduced their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Bank of America boosted 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. Finally, Citigroup upgraded 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 report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.14.

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.