Xponance Inc. Acquires 688 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Xponance Inc. increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 35,056 shares of the company’s stock after purchasing an additional 688 shares during the period. Xponance Inc.’s holdings in McCormick & Company, Incorporated were worth $2,885,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $223,202,000. Select Equity Group L.P. bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $104,863,000. Balyasny Asset Management L.P. boosted its position in McCormick & Company, Incorporated by 47.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company’s stock valued at $216,771,000 after buying an additional 915,807 shares during the last quarter. Northern Trust Corp boosted its position in McCormick & Company, Incorporated by 16.8% in the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock valued at $281,573,000 after buying an additional 531,060 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in McCormick & Company, Incorporated by 88.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company’s stock valued at $67,035,000 after buying an additional 412,074 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a “neutral” rating and a $83.00 price target on the stock. Finally, Citigroup decreased their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.13.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $71.93 on Tuesday. The stock’s fifty day simple moving average is $74.03 and its 200 day simple moving average is $76.27. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $19.30 billion, a PE ratio of 24.98, a PEG ratio of 3.46 and a beta of 0.68. McCormick & Company, Incorporated has a 12 month low of $69.98 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.69 earnings per share. McCormick & Company, Incorporated’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated’s payout ratio is currently 62.50%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.