McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Fmr LLC

Fmr LLC reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 58.4% in the 3rd quarter, Holdings Channel reports. The firm owned 277,175 shares of the company’s stock after selling 389,038 shares during the quarter. Fmr LLC’s holdings in McCormick & Company, Incorporated were worth $22,811,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $20,227,000. Hemenway Trust Co LLC raised its stake in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares during the last quarter. Boston Trust Walden Corp raised its stake in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after purchasing an additional 6,588 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $2,819,000. 79.74% of the stock is owned by institutional investors and hedge funds.

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 that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the sale, the director now owns 40,436 shares in the company, valued at $3,174,226. This represents a 11.00 % 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 20,000 shares of company stock worth $1,565,850 over the last 90 days. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $79.96 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49. The stock has a 50 day moving average of $78.41 and a two-hundred day moving average of $76.53. The stock has a market cap of $21.46 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.31 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of recent research reports. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America increased 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. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research report on Monday. TD Cowen lifted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $81.00.

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.