Daiwa Securities Group Inc. Sells 244 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Daiwa Securities Group Inc. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,511 shares of the company’s stock after selling 244 shares during the quarter. Daiwa Securities Group Inc.’s holdings in McCormick & Company, Incorporated were worth $1,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing 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% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after purchasing an additional 136,080 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after purchasing an additional 60,512 shares in the last quarter. Norges Bank bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $160,999,000. Finally, First Trust Advisors LP boosted its position in shares of McCormick & Company, Incorporated by 6.1% during the 4th quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock worth $68,737,000 after purchasing an additional 57,839 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.7 %

NYSE:MKC opened at $83.76 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. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $84.50. The firm has a 50-day moving average price of $77.38 and a two-hundred day moving average price of $73.84.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, equities analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.01%. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Insider Transactions at McCormick & Company, Incorporated

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 transaction of $1,875,000.00. Following the completion of the sale, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 22.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MKC shares. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen dropped 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.25.

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.