Hall Laurie J Trustee Has $2.13 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Hall Laurie J Trustee raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 2,297.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 29,970 shares of the company’s stock after purchasing an additional 28,720 shares during the period. Hall Laurie J Trustee’s holdings in McCormick & Company, Incorporated were worth $2,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 7,344.4% in the 4th quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock valued at $7,946,000 after acquiring an additional 114,572 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $1,040,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of McCormick & Company, Incorporated by 0.8% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 653,102 shares of the company’s stock valued at $44,685,000 after acquiring an additional 5,073 shares in the last quarter. Strs Ohio grew its holdings in shares of McCormick & Company, Incorporated by 3.1% in the 4th quarter. Strs Ohio now owns 20,516 shares of the company’s stock valued at $1,403,000 after acquiring an additional 621 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of McCormick & Company, Incorporated by 8.9% in the 4th quarter. Mackenzie Financial Corp now owns 97,727 shares of the company’s stock valued at $6,686,000 after acquiring an additional 7,986 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity

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 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 directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MKC shares. TD Cowen decreased their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $76.25.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock traded down $0.06 during midday trading on Tuesday, reaching $78.10. 976,602 shares of the company’s stock were exchanged, compared to its average volume of 1,962,778. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $84.77. 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 $20.98 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 4.02 and a beta of 0.75. The stock’s 50-day simple moving average is $73.11 and its 200 day simple moving average is $72.04.

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 analysts’ consensus estimates 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 company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. On average, analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.15%. McCormick & Company, Incorporated’s payout ratio is 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.