McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 39.1% in the third quarter, HoldingsChannel reports. The firm owned 9,582 shares of the company’s stock after selling 6,160 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in McCormick & Company, Incorporated were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted 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 acquiring an additional 175 shares during the period. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Finally, Kennebec Savings Bank bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $40,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $80.17 on Tuesday. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49. 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 firm has a 50-day moving average of $78.38 and a two-hundred day moving average of $76.88. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 3.48 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.22%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen lifted their price objective 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. Bank of America increased 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 report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $81.00.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is currently owned by insiders.

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.