Birch Capital Management LLC Cuts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Birch Capital Management LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 5.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,190 shares of the company’s stock after selling 1,164 shares during the quarter. McCormick & Company, Incorporated comprises 1.2% of Birch Capital Management LLC’s portfolio, making the stock its 26th largest holding. Birch Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,936,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MKC. Moneta Group Investment Advisors LLC lifted its stake in McCormick & Company, Incorporated by 92,736.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock worth $478,334,000 after acquiring an additional 5,764,492 shares during the last quarter. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $148,700,000. Vanguard Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company’s stock valued at $2,889,787,000 after purchasing an additional 462,997 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth $27,153,000. Finally, Mawer Investment Management Ltd. grew its stake in shares of McCormick & Company, Incorporated by 57.6% during the first quarter. Mawer Investment Management Ltd. now owns 1,031,834 shares of the company’s stock worth $85,859,000 after purchasing an additional 377,226 shares in the last quarter. 78.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on MKC shares. JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $71.00 in a research note on Thursday, July 6th. TheStreet upgraded McCormick & Company, Incorporated from a “c+” rating to a “b-” rating in a research note on Friday, June 23rd. StockNews.com started coverage on McCormick & Company, Incorporated in a report on Thursday, August 17th. They issued a “hold” rating for the company. Bank of America raised shares of McCormick & Company, Incorporated from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $100.00 in a report on Tuesday, June 6th. Finally, Barclays increased their target price on shares of McCormick & Company, Incorporated from $77.00 to $85.00 in a research report on Sunday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.73.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $83.63, for a total value of $418,150.00. Following the sale, the director now owns 39,181 shares of the company’s stock, valued at approximately $3,276,707.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other McCormick & Company, Incorporated news, VP Jeffery D. Schwartz sold 3,600 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $87.48, for a total value of $314,928.00. Following the completion of the transaction, the vice president now owns 57,174 shares in the company, valued at $5,001,581.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $83.63, for a total transaction of $418,150.00. Following the sale, the director now owns 39,181 shares in the company, valued at $3,276,707.03. The disclosure for this sale can be found here. Insiders sold 16,200 shares of company stock valued at $1,416,530 over the last ninety days. Corporate insiders own 19.00% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC opened at $79.93 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $70.60 and a 52 week high of $94.39. The business has a 50 day moving average price of $84.72 and a two-hundred day moving average price of $84.75. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.83. The company has a market cap of $21.45 billion, a PE ratio of 30.86, a P/E/G ratio of 4.00 and a beta of 0.59.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, June 29th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. McCormick & Company, Incorporated had a return on equity of 14.76% and a net margin of 10.74%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 2.66 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 24th. Stockholders of record on Monday, July 10th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, July 7th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.95%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 60.23%.

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.