Jacobi Capital Management LLC Has $644,000 Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Jacobi Capital Management LLC raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,378 shares of the company’s stock after acquiring an additional 250 shares during the quarter. Jacobi Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after buying an additional 42,625 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in McCormick & Company, Incorporated by 33.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,515 shares of the company’s stock valued at $172,000 after acquiring an additional 625 shares during the last quarter. Mutual Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 13.8% in the fourth quarter. Mutual Advisors LLC now owns 11,259 shares of the company’s stock valued at $770,000 after acquiring an additional 1,362 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its position in McCormick & Company, Incorporated by 49.0% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 114,223 shares of the company’s stock worth $7,815,000 after purchasing an additional 37,548 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in McCormick & Company, Incorporated by 8.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 177,242 shares of the company’s stock worth $12,127,000 after purchasing an additional 14,348 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MKC. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Barclays lifted 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. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, April 2nd. TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Stock Down 0.2 %

Shares of MKC traded down $0.16 during midday trading on Monday, hitting $73.43. The stock had a trading volume of 1,228,416 shares, compared to its average volume of 2,002,092. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.79 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 company has a 50 day simple moving average of $70.97 and a two-hundred day simple moving average of $70.53. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $90.45.

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, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion during 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%. McCormick & Company, Incorporated’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the company’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 SEC, which can be accessed through this link. In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Jenkins sold 2,732 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 107,732 shares of company stock valued at $7,982,386 in the last quarter. 22.90% of the stock is currently owned by insiders.

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.