McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 60.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 48,214 shares of the company’s stock after buying an additional 18,211 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McCormick & Company, Incorporated were worth $3,420,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MKC. Vanguard Group Inc. lifted its stake 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 worth $2,390,261,000 after acquiring an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of McCormick & Company, Incorporated by 4.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after purchasing an additional 136,080 shares in the last quarter. ProShare Advisors LLC lifted 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 during the last quarter. Nuance Investments LLC grew its stake in shares of McCormick & Company, Incorporated by 10.5% during the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in McCormick & Company, Incorporated by 6.1% in the fourth quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock valued at $68,737,000 after buying an additional 57,839 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $83.23 on Friday. The company’s 50 day simple moving average is $79.48 and its 200-day simple moving average is $74.76. The firm has a market cap of $22.36 billion, a PE ratio of 30.38, a price-to-earnings-growth 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. 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 (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. McCormick & Company, Incorporated’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.02%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.