DekaBank Deutsche Girozentrale Sells 201 Shares of McCormick & Company, Incorporated (NYSE:MKC)

DekaBank Deutsche Girozentrale reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 49,747 shares of the company’s stock after selling 201 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in McCormick & Company, Incorporated were worth $3,548,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. 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 research note on Tuesday. Finally, TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $77.38.

McCormick & Company, Incorporated Trading Down 0.7 %

Shares of McCormick & Company, Incorporated stock opened at $83.90 on Thursday. The stock has a market capitalization of $22.54 billion, a PE ratio of 30.62, 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 $85.49. The stock has a 50 day moving average price of $78.23 and a two-hundred day moving average price of $74.18. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.60 EPS. McCormick & Company, Incorporated’s revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate 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 was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a $0.42 dividend. The ex-dividend date was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.00%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’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 transaction of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.90% of the stock is owned by 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.