Malaga Cove Capital LLC Purchases 2,763 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Malaga Cove Capital LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 35.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,610 shares of the company’s stock after purchasing an additional 2,763 shares during the quarter. Malaga Cove Capital LLC’s holdings in McCormick & Company, Incorporated were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Lindbrook Capital LLC increased 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 buying an additional 134 shares during the last quarter. State of Alaska Department of Revenue increased its stake in McCormick & Company, Incorporated by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after acquiring an additional 135 shares during the last quarter. HCR Wealth Advisors raised its position in McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after purchasing an additional 135 shares during the period. Aptus Capital Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after purchasing an additional 141 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC increased its position 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 valued at $1,193,000 after purchasing an additional 156 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.5 %

Shares of MKC opened at $83.28 on Tuesday. The firm has a fifty day moving average price of $76.33 and a 200-day moving average price of $73.45. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $22.37 billion, a P/E ratio of 30.39, a P/E/G ratio of 4.27 and a beta of 0.76. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $83.83.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. Equities research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were given 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 of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MKC. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.25.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly 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 this hyperlink. Company insiders own 22.90% of the company’s stock.

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.