Empirical Finance LLC Sells 580 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Empirical Finance LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,402 shares of the company’s stock after selling 580 shares during the period. Empirical Finance LLC’s holdings in McCormick & Company, Incorporated were worth $596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its stake in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management bought a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $35,000. VisionPoint Advisory Group LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $44,000. Finally, Lindbrook Capital LLC increased its stake in shares of McCormick & Company, Incorporated by 16.5% during the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after purchasing an additional 134 shares during the period. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MKC. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. TD Cowen lowered their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $76.25.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.3 %

Shares of NYSE:MKC opened at $80.03 on Friday. The company has a market capitalization of $21.50 billion, a P/E ratio of 29.21, a P/E/G ratio of 4.02 and a beta of 0.75. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $83.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The business’s 50 day simple moving average is $74.59 and its 200 day simple moving average is $72.60.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results 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. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio 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.