McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,056 shares of the company’s stock after selling 889 shares during the period. Valmark Advisers Inc.’s holdings in McCormick & Company, Incorporated were worth $217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Lindbrook Capital LLC grew its position in shares of McCormick & Company, Incorporated by 16.5% during the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after buying an additional 134 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in McCormick & Company, Incorporated by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock valued at $2,094,000 after acquiring an additional 135 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after purchasing an additional 141 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock worth $1,193,000 after purchasing an additional 156 shares during the period. Finally, KFG Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after purchasing an additional 156 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the 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 completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $81.20 on Wednesday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $81.98. The stock’s fifty day moving average is $75.29 and its 200-day moving average is $73.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 4.12 and a beta of 0.75.

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

McCormick & Company, Incorporated Dividend Announcement

The company 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. The ex-dividend date was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.07%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MKC. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. TD Cowen dropped 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 report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.25.

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.