APG Asset Management N.V. Has $10.16 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

APG Asset Management N.V. decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 29.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 153,550 shares of the company’s stock after selling 63,276 shares during the period. APG Asset Management N.V. owned 0.06% of McCormick & Company, Incorporated worth $10,164,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MKC. Capital Advisors Ltd. LLC boosted its holdings in shares of 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 acquiring an additional 175 shares during the period. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Farmers & Merchants Investments Inc. grew its holdings in McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after buying an additional 228 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in McCormick & Company, Incorporated during the 2nd quarter worth $67,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s 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 sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MKC. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Bank of America raised their target price on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. 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 research note 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.14.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $83.24 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The company has a market cap of $22.36 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. The company has a 50 day moving average of $79.67 and a 200-day moving average of $74.89. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year 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 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 analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced 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. This represents a $1.68 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

About McCormick & Company, Incorporated

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.