Massmutual Trust Co. FSB ADV Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Massmutual Trust Co. FSB ADV lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 4,273.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 831 shares of the company’s stock after purchasing an additional 812 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in McCormick & Company, Incorporated were worth $69,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MKC. Tcwp LLC purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth approximately $28,000. Western Pacific Wealth Management LP raised its stake in shares of McCormick & Company, Incorporated by 50.0% during the first quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth approximately $31,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $39,000. Finally, MCF Advisors LLC purchased a new position in McCormick & Company, Incorporated in the first quarter worth $41,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of MKC stock opened at $78.86 on Tuesday. McCormick & Company, Incorporated has a fifty-two week low of $77.67 and a fifty-two week high of $107.35. The stock has a market cap of $21.16 billion, a P/E ratio of 31.28, a P/E/G ratio of 5.60 and a beta of 0.51. The business has a fifty day simple moving average of $85.58 and a 200-day simple moving average of $91.44. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.85.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its quarterly earnings data on Wednesday, June 29th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.17). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. On average, analysts forecast that McCormick & Company, Incorporated will post 2.65 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Monday, July 11th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Friday, July 8th. McCormick & Company, Incorporated’s payout ratio is currently 58.50%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 10,580 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total transaction of $893,375.20. Following the sale, the director now owns 12,660 shares of the company’s stock, valued at $1,069,010.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays cut their price objective on McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, September 12th. TheStreet cut McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating for the company in a research report on Thursday, September 8th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.25.

About McCormick & Company, Incorporated

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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.

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

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