McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Davis R M Inc.

Davis R M Inc. lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,999 shares of the company’s stock after selling 6,322 shares during the quarter. Davis R M Inc.’s holdings in McCormick & Company, Incorporated were worth $9,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its position in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at $28,000. OFI Invest Asset Management purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $77.58 on Monday. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $79.62 and a two-hundred day moving average price of $76.26. The company has a market capitalization of $20.82 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 3.54 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The company 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 business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last ninety days. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MKC has been the subject of a number of research analyst reports. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen increased their target price 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 issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.