Birch Hill Investment Advisors LLC Sells 3,790 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Birch Hill Investment Advisors LLC trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,805 shares of the company’s stock after selling 3,790 shares during the period. Birch Hill Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $5,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in McCormick & Company, Incorporated by 23.7% in the third quarter. Exchange Traded Concepts LLC now owns 11,900 shares of the company’s stock valued at $979,000 after buying an additional 2,282 shares during the period. Ritholtz Wealth Management grew its position in McCormick & Company, Incorporated by 0.9% during the third quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after buying an additional 177 shares in the last quarter. Covea Finance acquired a new stake in McCormick & Company, Incorporated during the third quarter worth approximately $31,740,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in McCormick & Company, Incorporated by 445.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,082 shares of the company’s stock worth $171,000 after buying an additional 1,700 shares in the last quarter. Finally, DLK Investment Management LLC grew its position in McCormick & Company, Incorporated by 2.1% during the third quarter. DLK Investment Management LLC now owns 76,765 shares of the company’s stock worth $6,318,000 after buying an additional 1,609 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Up 0.5 %

NYSE MKC opened at $80.18 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 twelve month low of $59.13 and a twelve month high of $85.49. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. The business’s fifty day moving average is $80.66 and its 200 day moving average is $75.67.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen raised their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.57.

About McCormick & Company, Incorporated

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.