ICW Investment Advisors LLC Sells 254 Shares of McCormick & Company, Incorporated (NYSE:MKC)

ICW Investment Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,642 shares of the company’s stock after selling 254 shares during the quarter. ICW Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $1,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $160,999,000. Massachusetts Financial Services Co. MA grew its position in shares of McCormick & Company, Incorporated by 41.7% during the 4th 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 in the last quarter. Nuance Investments LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at $73,160,000. Vanguard Group Inc. raised its position in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after buying an additional 883,327 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in McCormick & Company, Incorporated by 299.9% during the first quarter. Intech Investment Management LLC now owns 402,223 shares of the company’s stock valued at $30,895,000 after buying an additional 301,652 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MKC. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $69.00 in a research note 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 on the stock in a research report on Monday, June 24th. One 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. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $76.25.

McCormick & Company, Incorporated Price Performance

MKC traded up $0.28 during midday trading on Friday, hitting $83.32. The stock had a trading volume of 30,468 shares, compared to its average volume of 1,929,702. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $83.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The business has a fifty day moving average of $75.82 and a 200 day moving average of $73.15. The company has a market cap of $22.38 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 4.12 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations 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 was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, equities analysts forecast 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 announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 22.90% of the stock is currently owned by corporate insiders.

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.