Birch Capital Management LLC Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Birch Capital Management LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,190 shares of the company’s stock after selling 1,164 shares during the quarter. McCormick & Company, Incorporated comprises approximately 1.2% of Birch Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Birch Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,936,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of McCormick & Company, Incorporated in the first quarter valued at $803,000. Penserra Capital Management LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth about $2,982,000. Ossiam boosted its position in shares of McCormick & Company, Incorporated by 145.7% in the first quarter. Ossiam now owns 17,528 shares of the company’s stock valued at $1,459,000 after acquiring an additional 10,393 shares during the period. Nisa Investment Advisors LLC grew its stake in McCormick & Company, Incorporated by 21.3% during the first quarter. Nisa Investment Advisors LLC now owns 66,446 shares of the company’s stock valued at $5,529,000 after acquiring an additional 11,690 shares in the last quarter. Finally, Aviva PLC increased its holdings in McCormick & Company, Incorporated by 63.7% during the 1st quarter. Aviva PLC now owns 614,208 shares of the company’s stock worth $51,108,000 after acquiring an additional 238,947 shares during the period. Hedge funds and other institutional investors own 78.15% of the company’s stock.

Insider Activity

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $89.88, for a total value of $449,400.00. Following the completion of the sale, the director now owns 25,612 shares in the company, valued at approximately $2,302,006.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $89.88, for a total transaction of $449,400.00. Following the transaction, the director now directly owns 25,612 shares of the company’s stock, valued at $2,302,006.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jeffery D. Schwartz sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $87.48, for a total value of $314,928.00. Following the transaction, the vice president now owns 57,174 shares of the company’s stock, valued at approximately $5,001,581.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,200 shares of company stock valued at $1,416,530. Insiders own 19.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America upgraded shares of McCormick & Company, Incorporated from an “underperform” rating to a “buy” rating and boosted their price target for the company from $75.00 to $100.00 in a research report on Tuesday, June 6th. TD Cowen assumed coverage on McCormick & Company, Incorporated in a research report on Wednesday, September 13th. They set a “market perform” rating and a $87.00 target price for the company. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $71.00 in a research report on Thursday, July 6th. TheStreet upgraded shares of McCormick & Company, Incorporated from a “c+” rating to a “b-” rating in a research report on Friday, June 23rd. Finally, Barclays lifted their target price on shares of McCormick & Company, Incorporated from $77.00 to $85.00 in a research report on Sunday, July 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $83.73.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC opened at $79.93 on Tuesday. McCormick & Company, Incorporated has a 12 month low of $70.60 and a 12 month high of $94.39. The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $84.72 and its 200-day moving average price is $84.75. The company has a market cap of $21.45 billion, a P/E ratio of 30.86, a P/E/G ratio of 4.00 and a beta of 0.59.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 29th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. McCormick & Company, Incorporated had a return on equity of 14.76% and a net margin of 10.74%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that McCormick & Company, Incorporated will post 2.66 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 60.23%.

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.