McCormick & Company, Incorporated (NYSE:MKC) Stake Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 15.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,825 shares of the company’s stock after acquiring an additional 14,362 shares during the quarter. Envestnet Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $9,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. acquired a new stake in McCormick & Company, Incorporated during the first quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $35,000. Financial Gravity Asset Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 426.5% during the 1st quarter. Financial Gravity Asset Management Inc. now owns 437 shares of the company’s stock worth $298,000 after acquiring an additional 354 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth $44,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of McCormick & Company, Incorporated by 177.6% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $37,000 after acquiring an additional 286 shares during the last quarter. Institutional investors own 78.15% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $83.63, for a total value of $418,150.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at $3,276,707.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Jeffery D. Schwartz sold 2,000 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $64.37, for a total transaction of $128,740.00. Following the transaction, the vice president now owns 55,174 shares of the company’s stock, valued at approximately $3,551,550.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $83.63, for a total value of $418,150.00. Following the completion of the transaction, the director now directly owns 39,181 shares in the company, valued at $3,276,707.03. The disclosure for this sale can be found here. Insiders own 19.00% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.7 %

MKC stock opened at $65.87 on Thursday. The company has a 50 day moving average of $68.85 and a two-hundred day moving average of $80.95. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 3.47 and a beta of 0.69. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The company has a quick ratio of 0.28, a current ratio of 0.67 and a debt-to-equity ratio of 0.67.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 3rd. The company reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. McCormick & Company, Incorporated had a net margin of 9.80% and a return on equity of 14.15%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the business posted $0.69 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 2.65 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were issued a $0.39 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 2.37%. McCormick & Company, Incorporated’s dividend payout ratio is currently 65.00%.

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. HSBC assumed coverage on McCormick & Company, Incorporated in a report on Friday, September 22nd. They set a “hold” rating and a $86.00 target price for the company. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $74.00 in a report on Thursday, October 5th. Stifel Nicolaus cut their price target on shares of McCormick & Company, Incorporated from $82.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, October 4th. TheStreet downgraded shares of McCormick & Company, Incorporated from a “b-” rating to a “c+” rating in a research report on Tuesday, October 3rd. Finally, Bank of America lowered their price objective on shares of McCormick & Company, Incorporated from $100.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.20.

About McCormick & Company, Incorporated

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.