Hemenway Trust Co LLC Invests $5.81 Million in McCormick & Company, Incorporated (NYSE:MKC)

Hemenway Trust Co LLC purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 81,851 shares of the company’s stock, valued at approximately $5,807,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MKC. Victory Capital Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 8.8% during the fourth quarter. Victory Capital Management Inc. now owns 175,358 shares of the company’s stock worth $11,998,000 after purchasing an additional 14,155 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of McCormick & Company, Incorporated by 22.0% in the 4th quarter. Merit Financial Group LLC now owns 3,860 shares of the company’s stock valued at $264,000 after purchasing an additional 697 shares during the last quarter. National Bank of Canada FI increased its position in shares of McCormick & Company, Incorporated by 10.4% during the fourth quarter. National Bank of Canada FI now owns 72,905 shares of the company’s stock worth $5,070,000 after buying an additional 6,892 shares during the period. Private Advisor Group LLC raised its stake in McCormick & Company, Incorporated by 6.7% during the fourth quarter. Private Advisor Group LLC now owns 53,532 shares of the company’s stock worth $3,663,000 after buying an additional 3,353 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in McCormick & Company, Incorporated by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,353,150 shares of the company’s stock valued at $92,583,000 after buying an additional 35,305 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.2 %

McCormick & Company, Incorporated stock traded up $0.14 during midday trading on Friday, reaching $83.18. The stock had a trading volume of 50,981 shares, compared to its average volume of 1,929,821. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $75.82 and a two-hundred day moving average price of $73.15. The company has a market capitalization of $22.34 billion, a P/E ratio of 30.34, a PEG ratio of 4.12 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $83.58.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The firm 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 revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm 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. The ex-dividend date was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of recent analyst reports. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $69.00 in a report 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 for the company in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $76.25.

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.