McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,264 shares of the company’s stock after selling 458 shares during the period. Empower Advisory Group LLC’s holdings in McCormick & Company, Incorporated were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. grew its stake in McCormick & Company, Incorporated by 11.8% in the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after acquiring an additional 16,420 shares during the period. QRG Capital Management Inc. increased its stake in McCormick & Company, Incorporated by 30.5% in the first quarter. QRG Capital Management Inc. now owns 10,782 shares of the company’s stock valued at $828,000 after purchasing an additional 2,523 shares during the last quarter. Russell Investments Group Ltd. increased its stake in McCormick & Company, Incorporated by 12.5% in the first quarter. Russell Investments Group Ltd. now owns 105,523 shares of the company’s stock valued at $8,093,000 after purchasing an additional 11,751 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in McCormick & Company, Incorporated by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after buying an additional 7,898 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in McCormick & Company, Incorporated by 12.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 389,871 shares of the company’s stock valued at $29,946,000 after buying an additional 43,988 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 1.2 %

NYSE MKC opened at $74.92 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The business has a 50 day moving average price of $80.64 and a two-hundred day moving average price of $76.24. The stock has a market cap of $20.11 billion, a PE ratio of 25.48, a P/E/G ratio of 3.50 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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 business 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 company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. 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. Stifel Nicolaus upped their price objective on 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 report on Wednesday, October 2nd. Finally, TD Cowen upped their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the sale, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Company 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.