MBB Public Markets I LLC Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

MBB Public Markets I LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 17,800 shares of the company’s stock, valued at approximately $1,263,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Advisors Ltd. LLC lifted its position in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated during the second quarter valued at about $35,000. Farmers & Merchants Investments Inc. raised its stake in shares of McCormick & Company, Incorporated by 40.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in McCormick & Company, Incorporated during the second quarter worth about $67,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 1.1 %

Shares of MKC stock opened at $82.30 on Tuesday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49. The stock’s fifty day moving average price is $79.85 and its two-hundred day moving average price is $75.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The company has a market cap of $22.11 billion, a PE ratio of 30.04, a P/E/G ratio of 4.24 and a beta of 0.76.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.04%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Wall Street Analyst Weigh In

MKC has been the subject of a number of research analyst reports. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price 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 company a “buy” rating in a research note on Tuesday, September 17th. Finally, 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 research note on Monday, June 24th. One investment 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 MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $76.14.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was 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 $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.90% of the stock is owned by company insiders.

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.