Envestnet Asset Management Inc. Sells 830 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Envestnet Asset Management Inc. lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.2% in the second quarter, Holdings Channel reports. The firm owned 443,288 shares of the company’s stock after selling 830 shares during the period. Envestnet Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $31,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its position in McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $35,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after buying an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $67,000. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 22.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Bank of America upped their price target on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, TD Cowen cut their price target 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.38.

McCormick & Company, Incorporated Stock Down 0.4 %

NYSE MKC opened at $82.99 on Friday. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. The company has a market capitalization of $22.29 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 4.26 and a beta of 0.76. The stock’s 50 day moving average is $78.70 and its two-hundred day moving average is $74.35. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal 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 given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 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.