Mutual of America Capital Management LLC Reduces Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Mutual of America Capital Management LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,065 shares of the company’s stock after selling 713 shares during the period. Mutual of America Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $28,000. Capital Advisors Ltd. LLC raised its position in McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $29,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, 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 is available through this hyperlink. Over the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MKC. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America upped 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, October 2nd. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen upped their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Trading Down 0.5 %

MKC stock opened at $77.58 on Friday. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The business’s 50-day moving average is $79.62 and its 200 day moving average is $76.25. 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 stock has a market cap of $20.82 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.56 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm 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 $0.45 dividend. This is an increase 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%.

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.