McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,713 shares of the company’s stock after selling 1,120 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in McCormick & Company, Incorporated were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $29,000. VisionPoint Advisory Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $44,000. Lindbrook Capital LLC lifted its holdings in shares of McCormick & Company, Incorporated by 16.5% during the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after purchasing an additional 134 shares during the period. Parkside Financial Bank & Trust grew its position in McCormick & Company, Incorporated by 72.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in McCormick & Company, Incorporated in the 1st quarter valued at $77,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of several analyst reports. TD Cowen lowered their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.25.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.3 %

NYSE MKC traded down $0.20 during mid-day trading on Tuesday, reaching $77.96. 17,129 shares of the company’s stock traded hands, compared to its average volume of 1,956,730. 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 has a 1-year low of $59.13 and a 1-year high of $84.77. The company has a fifty day simple moving average of $72.93 and a 200-day simple moving average of $71.97. The company has a market cap of $20.94 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 4.02 and a beta of 0.75.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.15%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

McCormick & Company, Incorporated 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.