TIAA Trust National Association Has $880,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

TIAA Trust National Association boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 8.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 11,458 shares of the company’s stock after acquiring an additional 873 shares during the quarter. TIAA Trust National Association’s holdings in McCormick & Company, Incorporated were worth $880,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MKC. Norges Bank acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $160,999,000. Massachusetts Financial Services Co. MA lifted its holdings in McCormick & Company, Incorporated by 41.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after buying an additional 1,577,636 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $92,340,000. Nuance Investments LLC acquired a new position in McCormick & Company, Incorporated in the first quarter valued at approximately $73,160,000. Finally, Vanguard Group Inc. lifted its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after buying an additional 883,327 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 2,732 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of McCormick & Company, Incorporated stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,458 shares of company stock valued at $8,110,714. Corporate insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. TD Cowen cut 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. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. Finally, Barclays increased their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of NYSE:MKC traded down $0.64 during midday trading on Friday, reaching $73.59. 1,616,626 shares of the company were exchanged, compared to its average volume of 2,322,386. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $90.45. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $70.97 and a two-hundred day simple moving average of $70.52. The firm has a market cap of $19.77 billion, a PE ratio of 26.86, a P/E/G ratio of 3.79 and a beta of 0.75.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

About McCormick & Company, Incorporated

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.