Scientech Research LLC Takes $202,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Scientech Research LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 2,848 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp boosted its position in shares of McCormick & Company, Incorporated by 3.5% in the second quarter. Mackenzie Financial Corp now owns 44,530 shares of the company’s stock worth $3,159,000 after buying an additional 1,499 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in McCormick & Company, Incorporated by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 151,289 shares of the company’s stock worth $10,732,000 after acquiring an additional 3,135 shares during the period. Millennium Management LLC grew its position in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at approximately $1,263,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $3,113,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the topic of several analyst reports. Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, TD Cowen lowered their price objective 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.14.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $84.07 on Wednesday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. The stock’s fifty day moving average is $80.05 and its 200-day moving average is $75.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.00%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

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.