McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 25,425 shares of the company’s stock after acquiring an additional 206 shares during the period. Oppenheimer & Co. Inc.’s holdings in McCormick & Company, Incorporated were worth $1,804,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Vest Financial LLC increased its holdings in shares of McCormick & Company, Incorporated by 3.3% in the second quarter. Vest Financial LLC now owns 587,269 shares of the company’s stock valued at $41,661,000 after purchasing an additional 18,824 shares during the period. Wambolt & Associates LLC increased its holdings in shares of McCormick & Company, Incorporated by 6.9% in the second quarter. Wambolt & Associates LLC now owns 26,492 shares of the company’s stock valued at $1,853,000 after purchasing an additional 1,713 shares during the period. Johnson Investment Counsel Inc. grew its holdings in McCormick & Company, Incorporated by 8.5% during the second quarter. Johnson Investment Counsel Inc. now owns 27,901 shares of the company’s stock worth $1,979,000 after acquiring an additional 2,195 shares during the period. American Century Companies Inc. grew its holdings in McCormick & Company, Incorporated by 98.0% during the second quarter. American Century Companies Inc. now owns 46,543 shares of the company’s stock worth $3,302,000 after acquiring an additional 23,033 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in McCormick & Company, Incorporated by 29.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,141 shares of the company’s stock worth $152,000 after acquiring an additional 492 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MKC. Bank of America raised their target price on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, TD Cowen dropped their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.38.

Insider Activity

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 stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.3 %

Shares of MKC opened at $84.50 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $85.49. The stock’s 50 day moving average is $77.98 and its two-hundred day moving average is $74.11. The firm has a market cap of $22.70 billion, a P/E ratio of 30.84, a PEG ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.60 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 1.99%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

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.