Securian Asset Management Inc Sells 200 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Securian Asset Management Inc reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 0.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 21,170 shares of the company’s stock after selling 200 shares during the quarter. Securian Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $1,870,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sage Capital Advisors llc bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $2,276,000. Blair William & Co. IL boosted its position in McCormick & Company, Incorporated by 11.8% in the 1st quarter. Blair William & Co. IL now owns 774,767 shares of the company’s stock valued at $69,078,000 after buying an additional 81,697 shares during the last quarter. NS Partners Ltd boosted its position in McCormick & Company, Incorporated by 33.3% in the 2nd quarter. NS Partners Ltd now owns 248,447 shares of the company’s stock valued at $21,943,000 after buying an additional 62,127 shares during the last quarter. Brinker Capital Investments LLC boosted its position in McCormick & Company, Incorporated by 76.4% in the 2nd quarter. Brinker Capital Investments LLC now owns 6,413 shares of the company’s stock valued at $566,000 after buying an additional 2,778 shares during the last quarter. Finally, Atlas Private Wealth Management boosted its position in McCormick & Company, Incorporated by 1,728.2% in the 1st quarter. Atlas Private Wealth Management now owns 11,335 shares of the company’s stock valued at $1,011,000 after buying an additional 10,715 shares during the last quarter. Institutional investors own 74.10% of the company’s stock.

MKC has been the topic of a number of recent research reports. Credit Suisse Group decreased their price objective on McCormick & Company, Incorporated from $104.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday. Stifel Nicolaus reiterated a “hold” rating and issued a $89.00 price objective on shares of McCormick & Company, Incorporated in a research report on Friday, July 2nd.

In other news, Director Freeman A. Hrabowski III sold 2,870 shares of the stock in a transaction on Friday, August 20th. The stock was sold at an average price of $87.50, for a total value of $251,125.00. Following the transaction, the director now owns 92,983 shares of the company’s stock, valued at approximately $8,136,012.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 13.90% of the company’s stock.

MKC stock opened at $85.08 on Wednesday. The business’s fifty day moving average is $86.04 and its 200-day moving average is $87.64. The company has a quick ratio of 0.38, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company has a market cap of $22.74 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 4.13 and a beta of 0.48. McCormick & Company, Incorporated has a twelve month low of $82.03 and a twelve month high of $101.67.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Wednesday, June 30th. The company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.47 billion. McCormick & Company, Incorporated had a return on equity of 19.50% and a net margin of 12.48%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. Research analysts anticipate that McCormick & Company, Incorporated will post 3.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 26th. Stockholders of record on Monday, July 12th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Friday, July 9th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 48.06%.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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

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