McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,555 shares of the company’s stock after selling 3,632 shares during the period. Banque Cantonale Vaudoise’s holdings in McCormick & Company, Incorporated were worth $2,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $160,999,000. Massachusetts Financial Services Co. MA lifted its stake in McCormick & Company, Incorporated by 41.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after buying an additional 1,577,636 shares during the last quarter. Nuance Investments LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at $73,160,000. Vanguard Group Inc. grew its position in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after acquiring an additional 883,327 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 299.9% in the 1st quarter. Intech Investment Management LLC now owns 402,223 shares of the company’s stock worth $30,895,000 after acquiring an additional 301,652 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

MKC traded up $1.00 during trading on Friday, hitting $80.03. The stock had a trading volume of 1,902,919 shares, compared to its average volume of 1,924,285. 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 has a 12 month low of $59.13 and a 12 month high of $83.48. The company has a 50 day simple moving average of $74.82 and a 200-day simple moving average of $72.70. The firm has a market cap of $21.50 billion, a PE ratio of 29.21, a P/E/G ratio of 4.02 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Analyst Ratings Changes

Several analysts recently commented on MKC shares. 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 report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $76.25.

Insider Activity

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on 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 sale, the director now directly 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 accessible through this hyperlink. Corporate 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.