Vanguard Group Inc. Buys 883,327 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Vanguard Group Inc. boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,119,141 shares of the company’s stock after acquiring an additional 883,327 shares during the quarter. Vanguard Group Inc. owned 11.59% of McCormick & Company, Incorporated worth $2,390,261,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $44,000. Valley National Advisers Inc. lifted its position in McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after acquiring an additional 582 shares in the last quarter. Private Trust Co. NA lifted its position in McCormick & Company, Incorporated by 59.1% during the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after buying an additional 290 shares in the last quarter. Lindbrook Capital LLC lifted its position in McCormick & Company, Incorporated by 16.5% during the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after buying an additional 134 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in McCormick & Company, Incorporated by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after buying an additional 461 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded down $0.64 during trading on Friday, hitting $73.59. 1,616,626 shares of the stock were exchanged, compared to its average volume of 2,322,386. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.79 and a beta of 0.75. The company has a fifty day moving average price of $70.97 and a 200-day moving average price of $70.52. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $90.45. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the business earned $0.60 EPS. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS 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. Investors of record on Monday, July 8th will be paid a $0.42 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a yield of 2.28%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

Analyst Upgrades and Downgrades

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

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,458 shares of company stock worth $8,110,714. Insiders own 22.90% of the company’s stock.

About McCormick & Company, Incorporated

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.