J.W. Cole Advisors Inc. Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

J.W. Cole Advisors Inc. raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,615 shares of the company’s stock after purchasing an additional 1,473 shares during the period. J.W. Cole Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $753,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $160,999,000. Nuance Investments LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter worth about $73,160,000. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Intech Investment Management LLC increased its stake in McCormick & Company, Incorporated by 299.9% during the 1st quarter. Intech Investment Management LLC now owns 402,223 shares of the company’s stock valued at $30,895,000 after purchasing an additional 301,652 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in McCormick & Company, Incorporated in the first quarter worth about $22,275,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TD Cowen reduced their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Stock Up 1.2 %

MKC stock opened at $84.76 on Tuesday. The business’s 50-day moving average is $77.69 and its two-hundred day moving average is $74.00. The company has a market cap of $22.77 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 4.26 and a beta of 0.76. 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 debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 1.98%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.90% of the stock is currently owned by corporate insiders.

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.