Nuance Investments LLC Acquires 99,741 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Nuance Investments LLC increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 10.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,052,220 shares of the company’s stock after buying an additional 99,741 shares during the period. McCormick & Company, Incorporated comprises approximately 2.3% of Nuance Investments LLC’s investment portfolio, making the stock its 17th biggest holding. Nuance Investments LLC owned about 0.39% of McCormick & Company, Incorporated worth $74,644,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised its stake in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated in the second quarter worth approximately $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the second quarter worth approximately $35,000. Farmers & Merchants Investments Inc. raised its stake in McCormick & Company, Incorporated by 40.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after buying an additional 228 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in McCormick & Company, Incorporated in the second quarter worth $67,000. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the topic of several analyst reports. TD Cowen cut 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 boosted their price objective for the company 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 issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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 company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following 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 filing with the SEC, which is available through the SEC website. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $83.17 on Friday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $84.50. 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 $22.34 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 4.26 and a beta of 0.76. The firm’s fifty day moving average is $77.12 and its two-hundred day moving average is $73.69.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is 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.