Quarry LP Sells 320 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Quarry LP decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 31.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 689 shares of the company’s stock after selling 320 shares during the quarter. Quarry LP’s holdings in McCormick & Company, Incorporated were worth $49,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC grew its stake in shares of 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 acquiring an additional 175 shares during the period. OFI Invest Asset Management purchased a new stake in McCormick & Company, Incorporated in the second quarter worth approximately $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $35,000. Farmers & Merchants Investments Inc. raised its stake in McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after buying an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $67,000. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.3 %

Shares of NYSE:MKC opened at $80.61 on Friday. The stock has a 50 day moving average of $80.43 and a 200 day moving average of $75.33. The company has a market cap of $21.65 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, equities 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 will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen lifted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.57.

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.