Van Lanschot Kempen Investment Management N.V. Lowers Stake in McCormick & Company, Incorporated (NYSE:MKC)

Van Lanschot Kempen Investment Management N.V. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,505 shares of the company’s stock after selling 24,116 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned 0.06% of McCormick & Company, Incorporated worth $12,308,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MKC. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. VisionPoint Advisory Group LLC bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $44,000. Lindbrook Capital LLC raised its position 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, Fidelis Capital Partners LLC bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $77,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of several recent analyst reports. TD Cowen reduced their price objective 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 upgraded 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of MKC traded up $0.59 during midday trading 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 stock’s 50 day moving average is $73.75 and its 200 day moving average is $72.23. The firm has a market cap of $21.30 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 4.02 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $83.48.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.90% of the stock is currently owned by corporate insiders.

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.