McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,458 shares of the company’s stock after acquiring an additional 873 shares during the period. TIAA Trust National Association’s holdings in McCormick & Company, Incorporated were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MKC. VisionPoint Advisory Group LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $44,000. Valley National Advisers Inc. raised its holdings in shares of McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after buying an additional 582 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of McCormick & Company, Incorporated by 16.5% during the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after buying an additional 134 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded down $0.64 during trading on Friday, hitting $73.59. The company had a trading volume of 1,616,626 shares, compared to its average volume of 2,322,386. The company has a market cap of $19.77 billion, a P/E ratio of 26.86, a PEG ratio of 3.79 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $90.45. The business’s 50-day moving average is $70.97 and its 200 day moving average is $70.52. 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 (NYSE:MKC) last posted its quarterly earnings results 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 analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.28%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,458 shares of company stock worth $8,110,714. Corporate insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, April 2nd. TD Cowen cut their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. 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’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $76.25.

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.