Plato Investment Management Ltd Has $1.56 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Plato Investment Management Ltd lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 544.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,032 shares of the company’s stock after purchasing an additional 18,613 shares during the quarter. Plato Investment Management Ltd’s holdings in McCormick & Company, Incorporated were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. grew its stake in shares of McCormick & Company, Incorporated by 16.1% during the second quarter. J.W. Cole Advisors Inc. now owns 10,615 shares of the company’s stock worth $753,000 after buying an additional 1,473 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in McCormick & Company, Incorporated by 72.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 9,058 shares of the company’s stock worth $642,000 after purchasing an additional 3,810 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,915 shares of the company’s stock worth $278,000 after purchasing an additional 371 shares in the last quarter. Nuance Investments LLC raised its position in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of McCormick & Company, Incorporated by 0.8% during the second quarter. Oppenheimer & Co. Inc. now owns 25,425 shares of the company’s stock valued at $1,804,000 after purchasing an additional 206 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was 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 in the company, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MKC. TD Cowen lowered their price objective 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. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $76.25.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of NYSE MKC opened at $83.76 on Monday. The company’s 50 day moving average price is $77.38 and its 200-day moving average price is $73.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $84.50. The company has a market capitalization of $22.50 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 for the quarter, compared to analyst estimates 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 for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. Equities 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 was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a dividend of $0.42 per share. The ex-dividend date was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.01%. McCormick & Company, Incorporated’s dividend payout ratio 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.