Armstrong Henry H Associates Inc. Cuts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Armstrong Henry H Associates Inc. trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,933 shares of the company’s stock after selling 1,340 shares during the period. McCormick & Company, Incorporated accounts for 0.2% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 28th largest holding. Armstrong Henry H Associates Inc.’s holdings in McCormick & Company, Incorporated were worth $1,627,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. VisionPoint Advisory Group LLC purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth $44,000. Valley National Advisers Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of McCormick & Company, Incorporated by 16.5% in the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after acquiring an additional 134 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of McCormick & Company, Incorporated by 72.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after acquiring an additional 461 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,875,000.00. Following the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,732 shares of company stock valued at $7,982,386. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $0.76 during trading hours on Friday, hitting $78.82. 2,183,204 shares of the company were exchanged, compared to its average volume of 1,967,768. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $88.78. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 4.02 and a beta of 0.75. The company’s 50 day moving average price is $71.36 and its 200-day moving average price is $71.19.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.25.

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.