McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Hendershot Investments Inc.

Hendershot Investments Inc. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,386 shares of the company’s stock after selling 334 shares during the period. Hendershot Investments Inc.’s holdings in McCormick & Company, Incorporated were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. National Bank of Canada FI grew its stake in shares of McCormick & Company, Incorporated by 21.5% in the 2nd quarter. National Bank of Canada FI now owns 69,735 shares of the company’s stock valued at $4,878,000 after buying an additional 12,340 shares during the period. TD Asset Management Inc raised its position in McCormick & Company, Incorporated by 30.8% in the second quarter. TD Asset Management Inc now owns 314,403 shares of the company’s stock valued at $22,304,000 after purchasing an additional 74,121 shares during the period. Mattern Capital Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 0.7% in the 2nd quarter. Mattern Capital Management LLC now owns 99,624 shares of the company’s stock valued at $7,067,000 after purchasing an additional 704 shares during the last quarter. Founders Financial Securities LLC increased its position in shares of McCormick & Company, Incorporated by 26.7% during the 2nd quarter. Founders Financial Securities LLC now owns 5,987 shares of the company’s stock worth $425,000 after purchasing an additional 1,263 shares during the last quarter. Finally, LifeGuide Financial Advisors LLC purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at about $1,147,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $83.04 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $75.82 and its 200-day simple moving average is $73.15. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 4.12 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $83.48.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen dropped their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased 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 issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $76.25.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was 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 directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 22.90% of the company’s stock.

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.