McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Howland Capital Management LLC

Key Points

• Howland Capital Management LLC increased its stake in McCormick & Company by 2.4%, owning approximately 0.12% of the company, valued at $25.47 million as of its latest SEC filing.
• McCormick reported a quarterly earnings per share of $0.69, exceeding analysts' expectations, with a revenue of $1.66 billion, slightly below the forecasted $1.67 billion.
• The company announced a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 and a yield of 2.5%.

Howland Capital Management LLC lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 309,451 shares of the company's stock after acquiring an additional 7,277 shares during the period. Howland Capital Management LLC owned approximately 0.12% of McCormick & Company, Incorporated worth $25,471,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Sage Capital Advisors llc boosted its position in McCormick & Company, Incorporated by 2.8% during the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after purchasing an additional 137 shares during the period. Bessemer Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after buying an additional 139 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of McCormick & Company, Incorporated by 1.8% in the first quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after buying an additional 140 shares during the period. Miracle Mile Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 1.3% in the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock valued at $912,000 after buying an additional 146 shares in the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in shares of McCormick & Company, Incorporated by 3.5% during the 1st quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company's stock valued at $395,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Down 1.1%

Shares of NYSE:MKC opened at $70.63 on Friday. The firm has a market cap of $18.95 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 3.43 and a beta of 0.68. The company has a fifty day simple moving average of $73.25 and a 200 day simple moving average of $75.99. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 12-month low of $69.98 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.5%. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MKC shares. Citigroup decreased their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. Finally, Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.00.

Insider Transactions at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated 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.

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