Prosperity Consulting Group LLC Lowers Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Prosperity Consulting Group LLC lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,901 shares of the company’s stock after selling 1,468 shares during the quarter. Prosperity Consulting Group LLC’s holdings in McCormick & Company, Incorporated were worth $2,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Portland Global Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 0.9% during the 1st quarter. Portland Global Advisors LLC now owns 52,593 shares of the company’s stock worth $4,329,000 after acquiring an additional 454 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of McCormick & Company, Incorporated by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,401 shares of the company’s stock valued at $9,169,000 after purchasing an additional 4,596 shares in the last quarter. Providence Wealth Advisors LLC acquired a new position in McCormick & Company, Incorporated in the 1st quarter worth about $337,000. Empirical Finance LLC boosted its position in McCormick & Company, Incorporated by 3.8% during the first quarter. Empirical Finance LLC now owns 8,819 shares of the company’s stock worth $726,000 after purchasing an additional 326 shares in the last quarter. Finally, Security Financial Services INC. boosted its position in McCormick & Company, Incorporated by 9.4% during the first quarter. Security Financial Services INC. now owns 3,718 shares of the company’s stock worth $306,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MKC. Citigroup dropped their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a “neutral” rating and a $83.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $84.13.

McCormick & Company, Incorporated Trading Up 0.0%

Shares of McCormick & Company, Incorporated stock opened at $71.59 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $73.32 and its 200-day simple moving average is $76.04. The stock has a market cap of $19.21 billion, a P/E ratio of 24.86, a P/E/G ratio of 3.44 and a beta of 0.68. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.50%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 23.80% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.