Kelman Lazarov Inc. decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,365 shares of the company’s stock after selling 487 shares during the period. Kelman Lazarov Inc.’s holdings in McCormick & Company, were worth $1,596,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of McCormick & Company, by 3.6% in the first quarter. Vanguard Group Inc. now owns 11,962,754 shares of the company’s stock valued at $1,166,965,000 after buying an additional 420,241 shares during the period. BlackRock Inc. raised its position in shares of McCormick & Company, by 956.5% in the first quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after buying an additional 9,420,526 shares during the period. State Street Corp raised its position in shares of McCormick & Company, by 5.4% in the first quarter. State Street Corp now owns 7,256,472 shares of the company’s stock valued at $707,872,000 after buying an additional 368,990 shares during the period. Parnassus Investments CA raised its position in shares of McCormick & Company, by 14.7% in the first quarter. Parnassus Investments CA now owns 2,426,180 shares of the company’s stock valued at $230,627,000 after buying an additional 310,021 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of McCormick & Company, by 6.6% in the first quarter. Geode Capital Management LLC now owns 1,207,462 shares of the company’s stock valued at $117,631,000 after buying an additional 74,953 shares during the period. 73.65% of the stock is currently owned by institutional investors and hedge funds.
McCormick & Company, Incorporated (NYSE:MKC) traded up 0.51% during midday trading on Wednesday, reaching $95.29. The company had a trading volume of 176,913 shares. The company has a market capitalization of $11.87 billion, a PE ratio of 25.31 and a beta of 0.52. The stock has a 50-day moving average price of $100.01 and a 200 day moving average price of $98.75. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50.
McCormick & Company, (NYSE:MKC) last released its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.06. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post $4.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 10th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.88 dividend on an annualized basis and a yield of 1.98%. McCormick & Company,’s dividend payout ratio is presently 49.87%.
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MKC has been the topic of several research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price target on shares of McCormick & Company, in a research note on Friday, May 19th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a report on Thursday, April 6th. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) started coverage on McCormick & Company, in a report on Friday, June 16th. They issued a “neutral” rating and a $101.00 price objective for the company. Finally, Credit Suisse Group set a $108.00 price objective on McCormick & Company, and gave the company a “buy” rating in a report on Saturday, July 1st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $102.33.
In other news, Director Maritza Gomez Montiel bought 2,500 shares of McCormick & Company, stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average price of $99.62 per share, with a total value of $249,050.00. Following the completion of the purchase, the director now directly owns 2,500 shares in the company, valued at $249,050. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 15.30% of the stock is owned by corporate insiders.
McCormick & Company, Company Profile
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
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