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

Mutual of America Capital Management LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,065 shares of the company’s stock after selling 713 shares during the quarter. Mutual of America Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,557,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. HCR Wealth Advisors grew its stake in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after acquiring an additional 135 shares in the last quarter. Wallington Asset Management LLC increased its holdings in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares during the period. Aptus Capital Advisors LLC raised its position in McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after purchasing an additional 141 shares in the last quarter. KFG Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after buying an additional 156 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

NYSE:MKC opened at $77.58 on Friday. The stock has a market capitalization 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 has a 52 week low of $63.67 and a 52 week 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 firm has a 50 day moving average of $79.62 and a 200 day moving average of $76.25.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 57.14%.

Analyst Ratings Changes

Several research firms recently weighed in on MKC. TD Cowen lifted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America increased their price objective 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. Finally, Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.57.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 in the last three months. 22.90% of the stock is 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.