McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,950 shares of the company’s stock after selling 187 shares during the quarter. Hartford Investment Management Co.’s holdings in McCormick & Company, Incorporated were worth $1,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after purchasing an additional 7,898 shares during the last quarter. Cetera Investment Advisers grew its position in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after buying an additional 31,306 shares during the last quarter. SG Americas Securities LLC grew its position in shares of McCormick & Company, Incorporated by 333.8% in the 1st quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after buying an additional 54,616 shares during the last quarter. Sei Investments Co. raised its stake in McCormick & Company, Incorporated by 11.8% during the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after acquiring an additional 16,420 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in McCormick & Company, Incorporated by 1.1% in the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after acquiring an additional 6,588 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.2 %

Shares of MKC stock opened at $77.86 on Friday. The company has a market capitalization of $20.89 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77. 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 business’s 50 day moving average is $81.14 and its two-hundred day moving average is $75.88. McCormick & Company, Incorporated has a twelve month low of $62.54 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results 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 firm had revenue of $1.68 billion during 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%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MKC shares. Stifel Nicolaus lifted their target price 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 upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price objective 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. Finally, Bank of America raised their target price 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. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Company Profile

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.