McCormick & Company, Incorporated (NYSE:MKC) Holdings Cut by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 69.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,444 shares of the company’s stock after selling 42,572 shares during the period. Intech Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,518,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MKC. Capital Advisors Ltd. LLC raised its holdings in shares of 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 buying an additional 175 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $28,000. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $39,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $77.23 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The firm has a market capitalization of $20.73 billion, a PE ratio of 26.27, a P/E/G ratio of 3.54 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company’s 50 day simple moving average is $79.47 and its 200 day simple moving average is $76.27.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts forecast 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. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.33%. McCormick & Company, Incorporated’s payout ratio is 61.22%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective 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 issued 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, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $79.57.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated 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 owns 28,217 shares in the company, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by insiders.

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.