Savoir Faire Capital Management L.P. Has $3.16 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Savoir Faire Capital Management L.P. lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 28.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,341 shares of the company’s stock after selling 15,488 shares during the quarter. McCormick & Company, Incorporated comprises approximately 1.6% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 29th largest holding. Savoir Faire Capital Management L.P.’s holdings in McCormick & Company, Incorporated were worth $3,155,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $20,227,000. Hemenway Trust Co LLC raised its holdings in McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after buying an additional 58,511 shares during the period. Cetera Investment Advisers raised its holdings in McCormick & Company, Incorporated by 470.6% during the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after buying an additional 31,306 shares during the period. Boston Trust Walden Corp grew its stake in shares of McCormick & Company, Incorporated by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after acquiring an additional 6,588 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of McCormick & Company, Incorporated by 16.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 284,729 shares of the company’s stock worth $21,870,000 after acquiring an additional 41,042 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on MKC. TD Cowen raised 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. Bank of America boosted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on 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 raised 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $74.62 on Tuesday. The firm has a market capitalization of $20.03 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 3.38 and a beta of 0.77. The stock’s 50 day moving average is $80.13 and its 200-day moving average is $76.22. McCormick & Company, Incorporated has a twelve month low of $63.67 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.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal 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 was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.25%. McCormick & Company, Incorporated’s 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.