Massmutual Trust Co. FSB ADV Sells 390 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Massmutual Trust Co. FSB ADV reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 18.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,675 shares of the company’s stock after selling 390 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in McCormick & Company, Incorporated were worth $119,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cullen Investment Group LTD. bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $5,728,000. International Assets Investment Management LLC lifted its position in shares of McCormick & Company, Incorporated by 7,344.4% during the 4th quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock valued at $7,946,000 after buying an additional 114,572 shares in the last quarter. abrdn plc lifted its position in shares of McCormick & Company, Incorporated by 19.1% during the 4th quarter. abrdn plc now owns 443,332 shares of the company’s stock valued at $30,333,000 after buying an additional 71,133 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after buying an additional 7,898 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of McCormick & Company, Incorporated by 374.3% during the 4th quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock valued at $7,948,000 after buying an additional 91,676 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded up $0.60 during trading hours on Tuesday, reaching $76.89. The company’s stock had a trading volume of 2,657,180 shares, compared to its average volume of 2,007,386. The firm’s 50-day moving average price is $71.44 and its 200-day moving average price is $71.27. 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 has a 1 year low of $59.13 and a 1 year high of $87.85. The company has a market capitalization of $20.65 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 4.02 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Insider Activity

In other news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were 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 directly owns 199,258 shares in the company, valued at approximately $14,944,350. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,732 shares of company stock valued at $7,982,386. 22.90% of the stock is currently owned by insiders.

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.