3,354 Shares in McCormick & Company, Incorporated (NYSE:MKC) Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, HoldingsChannel reports. The firm purchased 3,354 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its stake in McCormick & Company, Incorporated by 16.5% during the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after buying an additional 134 shares during the period. State of Alaska Department of Revenue raised its stake in McCormick & Company, Incorporated by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after buying an additional 135 shares during the period. HCR Wealth Advisors raised its stake in McCormick & Company, Incorporated by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after buying an additional 135 shares during the period. Aptus Capital Advisors LLC raised its stake in McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after buying an additional 141 shares during the period. Finally, Taylor Frigon Capital Management LLC raised its stake in 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 buying an additional 156 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McCormick & Company, Incorporated

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 $14,944,350. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MKC. TD Cowen decreased their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, Bank of America boosted their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.38.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $82.99 on Friday. The firm has a market cap of $22.29 billion, a PE ratio of 30.29, a P/E/G 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. The business has a 50 day moving average of $78.70 and a 200-day moving average of $74.35. 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 released its 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. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

McCormick & Company, Incorporated Company 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.