McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,453 shares of the company’s stock after selling 370 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in McCormick & Company, Incorporated were worth $943,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the period. Nuance Investments LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth about $73,160,000. Vanguard Group Inc. lifted its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after acquiring an additional 883,327 shares during the last quarter. Marshall Wace LLP acquired a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $51,286,000. Finally, Millennium Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after purchasing an additional 386,320 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded up $0.37 during midday trading on Monday, reaching $80.55. 147,964 shares of the company were exchanged, compared to its average volume of 1,932,727. The company’s 50 day moving average price is $80.66 and its two-hundred day moving average price is $75.67. The company has a market cap of $21.64 billion, a P/E ratio of 29.26, a PEG ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $59.45 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MKC. Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen upped their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $79.57.

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.