Millennium Management LLC Buys 386,320 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Millennium Management LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 111.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 733,588 shares of the company’s stock after acquiring an additional 386,320 shares during the period. Millennium Management LLC owned 0.27% of McCormick & Company, Incorporated worth $52,041,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its holdings in shares of McCormick & Company, Incorporated by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after purchasing an additional 7,898 shares during the period. Ossiam raised its stake in shares of McCormick & Company, Incorporated by 89.5% in the fourth quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after buying an additional 19,807 shares during the period. Cetera Investment Advisers lifted its position in shares of McCormick & Company, Incorporated by 470.6% during the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after buying an additional 31,306 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $430,000. Finally, SG Americas Securities LLC grew its stake in shares of McCormick & Company, Incorporated by 333.8% during the 1st quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock worth $5,452,000 after acquiring an additional 54,616 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $82.30 on Tuesday. The company has a 50 day moving average of $79.85 and a 200 day moving average of $75.04. 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 stock has a market cap of $22.11 billion, a P/E ratio of 30.04, 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.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.04%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MKC shares. Bank of America boosted their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. TD Cowen lowered their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.14.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction 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 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 available at this link. Company insiders own 22.90% of the company’s stock.

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.