Deprince Race & Zollo Inc. Takes $3.11 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Deprince Race & Zollo Inc. acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 43,889 shares of the company’s stock, valued at approximately $3,113,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MKC. Lindbrook Capital LLC increased its holdings 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 worth $73,000 after purchasing an additional 134 shares during the period. State of Alaska Department of Revenue increased its stake in McCormick & Company, Incorporated by 0.5% during 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. HCR Wealth Advisors raised its holdings in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after acquiring an additional 135 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after acquiring an additional 141 shares during the period. Finally, Taylor Frigon Capital Management LLC grew its holdings 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 in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.1 %

Shares of MKC stock opened at $83.29 on Friday. The company has a market capitalization of $22.37 billion, a P/E ratio of 30.40, a P/E/G ratio of 4.24 and a beta of 0.76. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49. 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 firm has a 50-day moving average price of $79.30 and a 200 day moving average price of $74.70.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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. The company had revenue of $1.64 billion during 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%. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Research analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.02%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MKC shares. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Bank of America lifted their target price on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, TD Cowen dropped 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.14.

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.