Prudential PLC Has $5.75 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Prudential PLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 16.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 81,081 shares of the company’s stock after buying an additional 11,540 shares during the period. Prudential PLC’s holdings in McCormick & Company, Incorporated were worth $5,752,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $403,000. Cary Street Partners Investment Advisory LLC raised its holdings in McCormick & Company, Incorporated by 20.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 8,213 shares of the company’s stock valued at $562,000 after buying an additional 1,367 shares during the last quarter. QRG Capital Management Inc. raised its holdings in McCormick & Company, Incorporated by 3.3% during the 4th quarter. QRG Capital Management Inc. now owns 8,259 shares of the company’s stock valued at $565,000 after buying an additional 267 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in McCormick & Company, Incorporated by 41.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after buying an additional 1,577,636 shares during the last quarter. Finally, Westpac Banking Corp increased its position in McCormick & Company, Incorporated by 133.0% during the 4th quarter. Westpac Banking Corp now owns 5,292 shares of the company’s stock valued at $362,000 after purchasing an additional 3,021 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $83.81 on Wednesday. The firm’s 50 day moving average price is $76.60 and its 200-day moving average price is $73.56. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $84.50. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $22.51 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. Equities research analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MKC. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen dropped their price target 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. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.25.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction 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 sale, the director now owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.90% of the stock is currently owned by company insiders.

About McCormick & Company, Incorporated

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.