Boston Trust Walden Corp Increases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Boston Trust Walden Corp increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 632,674 shares of the company’s stock after buying an additional 6,588 shares during the quarter. Boston Trust Walden Corp owned 0.24% of McCormick & Company, Incorporated worth $44,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its stake in shares of McCormick & Company, Incorporated by 16.5% in the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after buying an additional 134 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of McCormick & Company, Incorporated by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after buying an additional 135 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock worth $1,193,000 after buying an additional 156 shares during the last quarter. KFG Wealth Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 3.1% in the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after buying an additional 158 shares during the last quarter. Finally, Beaumont Financial Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 4.5% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4 %

Shares of MKC traded up $0.34 during midday trading on Friday, hitting $77.18. 1,566,137 shares of the stock were exchanged, compared to its average volume of 1,971,682. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $86.11. The stock has a fifty day simple moving average of $72.73 and a 200 day simple moving average of $71.88. The firm has a market cap of $20.73 billion, a P/E ratio of 28.17, a P/E/G ratio of 4.02 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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. 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%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. On average, research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MKC. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. TD Cowen lowered their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.25.

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.