Johnson Investment Counsel Inc. Raises Stake in McCormick & Company, Incorporated (NYSE:MKC)

Johnson Investment Counsel Inc. increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,901 shares of the company’s stock after buying an additional 2,195 shares during the period. Johnson Investment Counsel Inc.’s holdings in McCormick & Company, Incorporated were worth $1,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Capital Advisors Ltd. LLC raised its holdings in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated in the second quarter valued at $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated during the second quarter worth about $35,000. Farmers & Merchants Investments Inc. boosted its stake in McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after buying an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter worth about $67,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of research analyst reports. TD Cowen dropped 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 research note on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One 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, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of MKC stock opened at $83.76 on Friday. 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 fifty-two week low of $59.13 and a fifty-two week high of $84.50. The firm’s 50 day moving average price is $77.38 and its two-hundred day moving average price is $73.80. The stock has a market cap of $22.50 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76.

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

McCormick & Company, Incorporated Announces Dividend

The business 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 2.01%. 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 company’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 completion of the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.90% of the company’s stock.

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.