Plato Investment Management Ltd Has $1.56 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Plato Investment Management Ltd grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 544.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,032 shares of the company’s stock after acquiring an additional 18,613 shares during the quarter. Plato Investment Management Ltd’s holdings in McCormick & Company, Incorporated were worth $1,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MKC. J.W. Cole Advisors Inc. grew its position in McCormick & Company, Incorporated by 16.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 10,615 shares of the company’s stock valued at $753,000 after purchasing an additional 1,473 shares during the period. Thoroughbred Financial Services LLC lifted its stake in shares of McCormick & Company, Incorporated by 72.6% in the second quarter. Thoroughbred Financial Services LLC now owns 9,058 shares of the company’s stock valued at $642,000 after buying an additional 3,810 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in shares of McCormick & Company, Incorporated by 10.5% in the second quarter. Meeder Advisory Services Inc. now owns 3,915 shares of the company’s stock valued at $278,000 after buying an additional 371 shares in the last quarter. Nuance Investments LLC grew its holdings in shares of McCormick & Company, Incorporated by 10.5% during the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after buying an additional 99,741 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of McCormick & Company, Incorporated by 0.8% during the second quarter. Oppenheimer & Co. Inc. now owns 25,425 shares of the company’s stock worth $1,804,000 after acquiring an additional 206 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on MKC. TD Cowen dropped 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 McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $83.76 on Monday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $84.50. The company’s 50 day moving average price is $77.38 and its two-hundred day moving average price is $73.89. The stock has a market cap of $22.50 billion, a P/E ratio of 30.57, a P/E/G ratio of 4.26 and a beta of 0.76. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $0.60 earnings per share. McCormick & Company, Incorporated’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

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.