SeaCrest Wealth Management LLC Buys New Shares in McCormick & Company, Incorporated (NYSE:MKC)

SeaCrest Wealth Management LLC bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 973 shares of the company’s stock, valued at approximately $81,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in McCormick & Company, Incorporated by 1.6% during the first quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company’s stock valued at $2,889,787,000 after purchasing an additional 462,997 shares during the last quarter. BlackRock Inc. lifted its position in shares of McCormick & Company, Incorporated by 0.3% in the 1st quarter. BlackRock Inc. now owns 20,435,276 shares of the company’s stock valued at $2,039,441,000 after acquiring an additional 65,272 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of McCormick & Company, Incorporated by 0.5% in the 1st quarter. Champlain Investment Partners LLC now owns 2,458,820 shares of the company’s stock valued at $245,390,000 after acquiring an additional 12,592 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of McCormick & Company, Incorporated by 169.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,049,413 shares of the company’s stock valued at $170,614,000 after acquiring an additional 1,287,858 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its position in shares of McCormick & Company, Incorporated by 3.2% in the 2nd quarter. Congress Asset Management Co. MA now owns 1,412,411 shares of the company’s stock valued at $117,583,000 after acquiring an additional 44,278 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In other news, COO Brendan M. Foley sold 2,152 shares of the stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $160,582.24. Following the transaction, the chief operating officer now owns 702 shares in the company, valued at approximately $52,383.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Brendan M. Foley sold 2,152 shares of the stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $160,582.24. Following the transaction, the chief operating officer now owns 702 shares in the company, valued at approximately $52,383.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lawrence Erik Kurzius sold 5,000 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of $74.41, for a total transaction of $372,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,152 shares of company stock worth $942,632 in the last 90 days. 15.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Up 0.8 %

McCormick & Company, Incorporated stock opened at $83.76 on Friday. The firm has a market cap of $22.47 billion, a PE ratio of 32.72, a P/E/G ratio of 5.90 and a beta of 0.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.77. The firm’s 50 day moving average price is $77.21 and its two-hundred day moving average price is $84.36. McCormick & Company, Incorporated has a twelve month low of $71.19 and a twelve month high of $107.35.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last announced its quarterly earnings results on Thursday, October 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 10.86% and a return on equity of 15.65%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business posted $0.80 EPS. McCormick & Company, Incorporated’s quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts predict that McCormick & Company, Incorporated will post 2.66 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Stockholders of record on Tuesday, October 11th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, October 7th. This represents a $1.48 annualized dividend and a dividend yield of 1.77%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MKC shares. StockNews.com started coverage on shares of McCormick & Company, Incorporated in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. BNP Paribas started coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday. They issued an “outperform” rating and a $94.00 price target for the company. Exane BNP Paribas started coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday. They issued an “outperform” rating and a $94.00 price target for the company. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, September 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating on the stock in a research note on Thursday, September 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.50.

About McCormick & Company, Incorporated

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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