Global X Japan Co. Ltd. Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Global X Japan Co. Ltd. decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,656 shares of the company’s stock after selling 629 shares during the period. Global X Japan Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. State Board of Administration of Florida Retirement System grew its holdings in 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 purchasing an additional 7,898 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of McCormick & Company, Incorporated by 374.3% in the fourth quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock worth $7,948,000 after buying an additional 91,676 shares during the period. Ossiam lifted its stake in shares of McCormick & Company, Incorporated by 89.5% during the 4th quarter. Ossiam now owns 41,928 shares of the company’s stock worth $2,869,000 after acquiring an additional 19,807 shares during the last quarter. Cetera Investment Advisers boosted its holdings in McCormick & Company, Incorporated by 470.6% during the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after acquiring an additional 31,306 shares during the period. Finally, Blueshift Asset Management LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $430,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MKC. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen decreased their price objective on shares of 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 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.25.

McCormick & Company, Incorporated Trading Up 0.5 %

NYSE MKC opened at $83.28 on Tuesday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $83.83. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The company has a market capitalization of $22.37 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 4.27 and a beta of 0.76. The company’s 50-day simple moving average is $76.33 and its two-hundred day simple moving average is $73.45.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction dated 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 $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated 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.