AMF Tjanstepension AB Buys Shares of 109,917 McCormick & Company, Incorporated (NYSE:MKC)

AMF Tjanstepension AB bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, HoldingsChannel reports. The firm bought 109,917 shares of the company’s stock, valued at approximately $7,798,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Mather Group LLC. grew its stake in McCormick & Company, Incorporated by 9,216.0% during the 2nd quarter. Mather Group LLC. now owns 196,940 shares of the company’s stock valued at $15,127,000 after acquiring an additional 194,826 shares in the last quarter. Douglas Lane & Associates LLC grew its stake in shares of McCormick & Company, Incorporated by 2.4% in the 2nd quarter. Douglas Lane & Associates LLC now owns 7,975 shares of the company’s stock valued at $566,000 after buying an additional 190 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $701,000. DNB Asset Management AS grew its stake in shares of McCormick & Company, Incorporated by 8.6% in the 2nd quarter. DNB Asset Management AS now owns 48,185 shares of the company’s stock valued at $3,418,000 after buying an additional 3,831 shares in the last quarter. Finally, First Hawaiian Bank lifted its holdings in McCormick & Company, Incorporated by 17.5% in the 2nd quarter. First Hawaiian Bank now owns 16,989 shares of the company’s stock worth $1,205,000 after purchasing an additional 2,529 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded up $0.72 during trading hours on Wednesday, reaching $77.61. 1,428,949 shares of the company’s stock were exchanged, compared to its average volume of 2,004,646. The business has a fifty day moving average price of $71.55 and a 200-day moving average price of $71.35. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $20.85 billion, a P/E ratio of 28.32, a P/E/G ratio of 4.02 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $87.62.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.64 billion during 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%. McCormick & Company, Incorporated’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.42 dividend. The ex-dividend date was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. TD Cowen reduced their target price 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 boosted 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 assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.25.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The disclosure for this sale can be found here. Insiders have sold 107,732 shares of company stock worth $7,982,386 over the last three months. Company insiders own 22.90% of the company’s stock.

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.