BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 105.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 58,479 shares of the company’s stock after buying an additional 29,986 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in McCormick & Company, Incorporated were worth $4,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Taylor Frigon Capital Management LLC boosted its position in McCormick & Company, Incorporated by 31.5% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 20,425 shares of the company’s stock worth $1,449,000 after purchasing an additional 4,889 shares in the last quarter. UMB Bank n.a. boosted its holdings in McCormick & Company, Incorporated by 1.4% during the second quarter. UMB Bank n.a. now owns 19,958 shares of the company’s stock worth $1,416,000 after buying an additional 270 shares in the last quarter. Tobam grew its position in McCormick & Company, Incorporated by 87.9% during the second quarter. Tobam now owns 33,621 shares of the company’s stock valued at $2,385,000 after buying an additional 15,729 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in McCormick & Company, Incorporated by 3.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,966 shares of the company’s stock valued at $7,304,000 after buying an additional 3,787 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $331,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $80.03 on Friday. The stock has a 50 day moving average of $74.82 and a two-hundred day moving average of $72.70. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $83.48. The firm has a market cap of $21.50 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 4.02 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.31 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, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. On average, analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen dropped their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $76.25.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’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 of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.90% of the stock is currently owned by company insiders.

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.