CFS Investment Advisory Services LLC Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

CFS Investment Advisory Services LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,539 shares of the company’s stock after selling 750 shares during the period. CFS Investment Advisory Services LLC’s holdings in McCormick & Company, Incorporated were worth $1,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the period. Marshall Wace LLP purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at approximately $51,286,000. Millennium Management LLC increased its holdings in McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after buying an additional 386,320 shares during the last quarter. Covea Finance bought a new position in McCormick & Company, Incorporated in the third quarter worth approximately $31,740,000. Finally, E. Ohman J or Asset Management AB boosted its stake in shares of McCormick & Company, Incorporated by 3,499.8% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock worth $27,552,000 after acquiring an additional 325,477 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

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 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,210,237.61. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 20,000 shares of company stock valued at $1,565,850 in the last 90 days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of MKC opened at $77.58 on Friday. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-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 company has a market capitalization of $20.82 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The business’s 50 day moving average is $79.62 and its 200 day moving average is $76.25.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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 last year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Research 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 declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.32%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

Analyst Ratings Changes

A number of analysts have commented on MKC shares. Bank of America upped their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen lifted their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.57.

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.