Jacobs & Co. CA Sells 3,842 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Jacobs & Co. CA lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,665 shares of the company’s stock after selling 3,842 shares during the period. Jacobs & Co. CA’s holdings in McCormick & Company, Incorporated were worth $12,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MKC. 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 acquiring an additional 975,255 shares during the period. Nuance Investments LLC bought a new position in McCormick & Company, Incorporated during the 1st quarter worth about $73,160,000. Vanguard Group Inc. raised 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 valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Marshall Wace LLP acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $51,286,000. Finally, Millennium Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 111.2% in 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 in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MKC shares. Stifel Nicolaus increased 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. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Bank of America boosted their price objective 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. Finally, TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $82.06 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $80.21 and its 200 day simple moving average is $75.20. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. The company has a market cap of $22.04 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 4.24 and a beta of 0.76.

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, topping the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. On average, research analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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 given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.90% of the company’s stock.

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.