Northcape Wealth Management LLC Purchases 750 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Northcape Wealth Management LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,093 shares of the company’s stock after buying an additional 750 shares during the period. Northcape Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its stake in McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after acquiring an additional 7,898 shares during the period. Trexquant Investment LP boosted its holdings in McCormick & Company, Incorporated by 374.3% during the fourth quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock valued at $7,948,000 after purchasing an additional 91,676 shares in the last quarter. Ossiam grew its stake in shares of McCormick & Company, Incorporated by 89.5% in the 4th quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after purchasing an additional 19,807 shares during the period. Cetera Investment Advisers raised its holdings in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after buying an additional 31,306 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $430,000. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on MKC shares. TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.25.

Insider Activity

In related 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 sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $0.59 during mid-day trading on Friday, hitting $79.30. 1,014,178 shares of the company traded hands, compared to its average volume of 1,944,112. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $21.30 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 4.02 and a beta of 0.75. The business has a 50-day moving average of $73.75 and a 200 day moving average of $72.27. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $83.48.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

McCormick & Company, Incorporated Company 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.