Vaughan David Investments LLC IL Lowers Stake in McCormick & Company, Incorporated (NYSE:MKC)

Vaughan David Investments LLC IL reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,878 shares of the company’s stock after selling 420 shares during the quarter. Vaughan David Investments LLC IL’s holdings in McCormick & Company, Incorporated were worth $4,759,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of McCormick & Company, Incorporated by 0.4% during the 1st quarter. BlackRock Inc. now owns 20,915,508 shares of the company’s stock worth $1,864,827,000 after purchasing an additional 89,074 shares during the last quarter. Geode Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 4,378,762 shares of the company’s stock worth $389,392,000 after purchasing an additional 102,011 shares during the last quarter. Nordea Investment Management AB raised its position in shares of McCormick & Company, Incorporated by 21.7% during the 1st quarter. Nordea Investment Management AB now owns 1,903,635 shares of the company’s stock worth $169,633,000 after purchasing an additional 339,278 shares during the last quarter. Swiss National Bank raised its position in shares of McCormick & Company, Incorporated by 1.7% during the 1st quarter. Swiss National Bank now owns 1,747,786 shares of the company’s stock worth $155,833,000 after purchasing an additional 28,400 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of McCormick & Company, Incorporated by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,605,653 shares of the company’s stock worth $143,160,000 after purchasing an additional 271,344 shares during the last quarter. 74.10% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on the stock. Credit Suisse Group reduced their price target on shares of McCormick & Company, Incorporated from $104.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, September 13th. Stifel Nicolaus restated a “hold” rating and set a $89.00 price target on shares of McCormick & Company, Incorporated in a research report on Friday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of McCormick & Company, Incorporated from $95.00 to $91.00 and set a “hold” rating for the company in a research report on Friday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.88.

MKC stock opened at $85.65 on Tuesday. The company has a market cap of $22.89 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 4.13 and a beta of 0.48. The company has a current ratio of 0.86, a quick ratio of 0.38 and a debt-to-equity ratio of 1.09. McCormick & Company, Incorporated has a 12 month low of $82.03 and a 12 month high of $101.67. The firm has a 50-day moving average of $85.93 and a two-hundred day moving average of $87.70.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Wednesday, June 30th. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.47 billion. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. McCormick & Company, Incorporated’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 26th. Shareholders of record on Monday, July 12th were issued a $0.34 dividend. The ex-dividend date was Friday, July 9th. This represents a $1.36 dividend on an annualized basis and a yield of 1.59%. McCormick & Company, Incorporated’s payout ratio is 48.06%.

In other news, Director Freeman A. Hrabowski III sold 2,870 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $87.50, for a total transaction of $251,125.00. Following the completion of the sale, the director now owns 92,983 shares in the company, valued at approximately $8,136,012.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Profile

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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