Raab & Moskowitz Asset Management LLC Has $225,000 Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Raab & Moskowitz Asset Management LLC decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 21.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,172 shares of the company’s stock after selling 876 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $225,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in McCormick & Company, Incorporated by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after buying an additional 883,327 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of McCormick & Company, Incorporated by 4.4% in the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after acquiring an additional 136,080 shares during the period. ProShare Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after acquiring an additional 60,512 shares in the last quarter. Nuance Investments LLC raised its stake in McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in McCormick & Company, Incorporated by 6.1% in the 4th quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock valued at $68,737,000 after purchasing an additional 57,839 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MKC. 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. Bank of America raised their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.14.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $83.23 on Friday. 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 has a 52 week low of $59.13 and a 52 week high of $85.49. The stock has a market capitalization of $22.36 billion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. The stock has a fifty day moving average of $79.48 and a 200-day moving average of $74.76.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping 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 firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Insider Activity at McCormick & Company, Incorporated

In related 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 value of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.90% of the stock is owned by 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.