Signaturefd LLC Cuts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Signaturefd LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,323 shares of the company’s stock after selling 177 shares during the period. Signaturefd LLC’s holdings in McCormick & Company, Incorporated were worth $356,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 2.9% during 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 last quarter. Champlain Investment Partners LLC grew its position in McCormick & Company, Incorporated by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after purchasing an additional 136,080 shares during the last quarter. ProShare Advisors LLC grew its position in McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after purchasing an additional 60,512 shares during the last quarter. Nuance Investments LLC lifted its stake in McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after acquiring an additional 99,741 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after acquiring an additional 975,255 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKC has been the topic of several research analyst reports. Bank of America upped their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen upped 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 note on Wednesday, October 2nd. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One equities 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 company’s 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 NYSE:MKC opened at $77.86 on Friday. The firm’s 50 day moving average price is $81.14 and its 200-day moving average price is $75.88. McCormick & Company, Incorporated has a twelve month low of $62.54 and a twelve month high of $85.49. 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 stock has a market capitalization of $20.89 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77.

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, 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 firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.65 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.16%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is 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.