McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.6% 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 396,234 shares of the company’s stock after selling 6,315 shares during the period. McCormick & Company, Incorporated comprises 1.5% of AMI Asset Management Corp’s portfolio, making the stock its 29th largest holding. AMI Asset Management Corp owned approximately 0.15% of McCormick & Company, Incorporated worth $28,109,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MKC. Vanguard Group Inc. grew its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Massachusetts Financial Services Co. MA grew its holdings 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 purchasing an additional 1,577,636 shares during the period. Champlain Investment Partners LLC grew its holdings in McCormick & Company, Incorporated by 4.4% in the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after purchasing an additional 136,080 shares during the period. ProShare Advisors LLC grew its holdings in McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after purchasing an additional 60,512 shares during the period. Finally, Norges Bank purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $160,999,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MKC shares. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the company from $68.00 to $69.00 in a 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 research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.25.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of MKC stock traded up $0.59 on Friday, hitting $79.30. The stock had a trading volume of 1,014,178 shares, compared to its average volume of 1,944,112. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 4.02 and a beta of 0.75. The stock’s 50 day moving average is $73.75 and its 200-day moving average is $72.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $83.48.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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. The business 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 quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company 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 of this dividend was Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.12%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Activity at McCormick & Company, Incorporated

In related news, 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 sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.90% of the stock is currently owned by corporate 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.