McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 13.4% in the second quarter, Holdings Channel reports. The firm owned 20,863 shares of the company’s stock after buying an additional 2,469 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuance Investments LLC purchased a new position in McCormick & Company, Incorporated during the first quarter worth about $73,160,000. Vanguard Group Inc. raised its position in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Intech Investment Management LLC raised its position in McCormick & Company, Incorporated by 299.9% in the first quarter. Intech Investment Management LLC now owns 402,223 shares of the company’s stock valued at $30,895,000 after purchasing an additional 301,652 shares during the period. Lord Abbett & CO. LLC acquired a new position in McCormick & Company, Incorporated during the first quarter worth $22,275,000. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of McCormick & Company, Incorporated by 1,974.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 243,687 shares of the company’s stock worth $16,673,000 after buying an additional 231,938 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MKC shares. TD Cowen cut their price objective 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. Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.38.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Down 0.4 %

NYSE MKC opened at $82.99 on Friday. The firm’s fifty day moving average is $78.70 and its two-hundred day moving average is $74.39. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. 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 $22.29 billion, a PE ratio of 30.29, a P/E/G ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 return on equity of 14.63% and a net margin of 11.07%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

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.