McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,597 shares of the company’s stock after selling 200 shares during the period. Sky Investment Group LLC’s holdings in McCormick & Company, Incorporated were worth $461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC grew its stake in McCormick & Company, Incorporated by 4.4% in the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after purchasing an additional 136,080 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 2.4% in the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after buying an additional 60,512 shares in the last quarter. Nuance Investments LLC increased its stake in shares of McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in 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 buying an additional 975,255 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.9 %

NYSE:MKC traded down $0.68 on Tuesday, hitting $77.38. 283,098 shares of the stock were exchanged, compared to its average volume of 1,919,614. The company’s 50-day moving average price is $81.05 and its 200 day moving average price is $75.81. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a 52 week low of $59.45 and a 52 week 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 posted its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during 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 company’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Analyst Upgrades and Downgrades

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