Van Cleef Asset Management Inc Boosts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Van Cleef Asset Management Inc raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 251,814 shares of the company's stock after purchasing an additional 43,494 shares during the quarter. McCormick & Company, Incorporated accounts for 2.3% of Van Cleef Asset Management Inc's portfolio, making the stock its 11th largest position. Van Cleef Asset Management Inc owned approximately 0.09% of McCormick & Company, Incorporated worth $20,727,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MKC. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new position in McCormick & Company, Incorporated in the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. increased its holdings in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after buying an additional 336 shares during the period. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Finally, Ameriflex Group Inc. acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated 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 accessible through this link. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded down $0.52 on Friday, hitting $71.92. The company's stock had a trading volume of 1,857,648 shares, compared to its average volume of 2,070,461. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. McCormick & Company, Incorporated has a 1 year low of $69.98 and a 1 year high of $86.24. The firm has a fifty day moving average price of $74.10 and a 200-day moving average price of $76.32. The company has a market capitalization of $19.30 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 3.46 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business earned $0.69 EPS. McCormick & Company, Incorporated's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Analysts Set New Price Targets

MKC has been the topic of several research reports. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective for the company. 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 report on Tuesday, June 17th. Finally, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $84.13.

About McCormick & Company, Incorporated

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.