109,917 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 109,917 shares of the company’s stock, valued at approximately $7,798,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in McCormick & Company, Incorporated by 9,216.0% in the second quarter. Mather Group LLC. now owns 196,940 shares of the company’s stock valued at $15,127,000 after acquiring an additional 194,826 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in McCormick & Company, Incorporated by 2.4% during the 2nd quarter. Douglas Lane & Associates LLC now owns 7,975 shares of the company’s stock worth $566,000 after acquiring an additional 190 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $701,000. DNB Asset Management AS increased its holdings in McCormick & Company, Incorporated by 8.6% during the 2nd quarter. DNB Asset Management AS now owns 48,185 shares of the company’s stock worth $3,418,000 after acquiring an additional 3,831 shares during the period. Finally, First Hawaiian Bank increased its holdings in McCormick & Company, Incorporated by 17.5% during the 2nd quarter. First Hawaiian Bank now owns 16,989 shares of the company’s stock worth $1,205,000 after acquiring an additional 2,529 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MKC has been the topic of a number of research analyst reports. TD Cowen decreased their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup raised shares of 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.25.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,732 shares of company stock valued at $7,982,386. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.9 %

Shares of McCormick & Company, Incorporated stock traded up $0.72 during trading on Wednesday, reaching $77.61. The company’s stock had a trading volume of 1,428,949 shares, compared to its average volume of 2,004,646. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $87.62. The company has a market cap of $20.85 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 4.02 and a beta of 0.75. The firm’s 50-day moving average is $71.55 and its two-hundred day moving average is $71.35. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.16%. 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.