Meeder Advisory Services Inc. Purchases 371 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Meeder Advisory Services Inc. raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,915 shares of the company’s stock after acquiring an additional 371 shares during the period. Meeder Advisory Services Inc.’s holdings in McCormick & Company, Incorporated were worth $278,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of McCormick & Company, Incorporated by 4.4% during the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after buying an additional 136,080 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after buying an additional 60,512 shares during the period. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $160,999,000. Finally, Nuance Investments LLC boosted its holdings in McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after acquiring an additional 99,741 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 transaction of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MKC shares. TD Cowen lowered their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $83.76 on Monday. The firm has a market capitalization of $22.50 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 4.26 and a beta of 0.76. The stock has a fifty day moving average of $77.38 and a 200 day moving average of $73.89. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $84.50. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $0.60 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

About McCormick & Company, Incorporated

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.