Hemenway Trust Co LLC Invests $5.81 Million in McCormick & Company, Incorporated (NYSE:MKC)

Hemenway Trust Co LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, HoldingsChannel reports. The fund purchased 81,851 shares of the company’s stock, valued at approximately $5,807,000.

Several other institutional investors have also recently made changes to their positions in the company. Lindbrook Capital LLC increased its stake 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 valued at $73,000 after purchasing an additional 134 shares in the last quarter. State of Alaska Department of Revenue grew its position in McCormick & Company, Incorporated by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after purchasing an additional 135 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after acquiring an additional 141 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock worth $1,193,000 after acquiring an additional 156 shares during the last quarter. Finally, KFG Wealth Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after buying an additional 156 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock traded up $0.14 during midday trading on Friday, hitting $83.18. 50,981 shares of the stock traded hands, compared to its average volume of 1,929,821. The firm has a market cap of $22.34 billion, a P/E ratio of 30.34, a PEG ratio of 4.12 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The stock’s fifty day simple moving average is $75.82 and its 200-day simple moving average is $73.15. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $83.58.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion for 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 company’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MKC shares. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. TD Cowen reduced 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.25.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.90% of the stock is owned by insiders.

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.