Dorsey & Whitney Trust CO LLC Buys 557 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Dorsey & Whitney Trust CO LLC increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,867 shares of the company’s stock after buying an additional 557 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in McCormick & Company, Incorporated were worth $274,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after acquiring an additional 7,898 shares during the last quarter. Trexquant Investment LP lifted its position in McCormick & Company, Incorporated by 374.3% during the 4th quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock worth $7,948,000 after buying an additional 91,676 shares in the last quarter. Ossiam grew its holdings in McCormick & Company, Incorporated by 89.5% during the 4th quarter. Ossiam now owns 41,928 shares of the company’s stock worth $2,869,000 after acquiring an additional 19,807 shares during the last quarter. Cetera Investment Advisers increased its position in McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after acquiring an additional 31,306 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $430,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of McCormick & Company, Incorporated stock opened at $83.17 on Friday. The business has a fifty day simple moving average of $77.12 and a 200 day simple moving average of $73.69. The stock has a market cap of $22.34 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 4.27 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 has a 12 month low of $59.13 and a 12 month high of $84.50.

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

McCormick & Company, Incorporated Announces Dividend

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

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

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

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.