McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by MAI Capital Management

MAI Capital Management reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,550 shares of the company’s stock after selling 306 shares during the quarter. MAI Capital Management’s holdings in McCormick & Company, Incorporated were worth $1,033,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MKC. HCR Wealth Advisors boosted its holdings in shares of McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after purchasing an additional 135 shares during the last quarter. Wallington Asset Management LLC increased its position in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 2.9% in the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after acquiring an additional 141 shares in the last quarter. KFG Wealth Management LLC raised its stake in shares of McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after acquiring an additional 156 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 over the last ninety days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.1 %

MKC stock opened at $77.95 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. The firm’s 50-day simple moving average is $79.74 and its 200 day simple moving average is $76.24. The stock has a market cap of $20.92 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.44 and a beta of 0.77. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.31%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MKC. TD Cowen increased their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One equities research 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 stock. According to data from MarketBeat.com, the stock has an average 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.