McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 65,524 shares of the company’s stock after selling 1,622 shares during the quarter. MetLife Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $5,393,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Capital Advisors Ltd. LLC increased its stake in shares of McCormick & Company, Incorporated by 87.5% in the second 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 last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at $29,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated during the 3rd quarter valued at $40,000. Finally, 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were 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 in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last quarter. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $78.41 on Friday. The company has a market cap of $21.04 billion, a P/E ratio of 26.67, a PEG ratio of 3.55 and a beta of 0.77. The business has a 50 day moving average of $79.01 and a two-hundred day moving average of $76.33. 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.

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 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%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MKC shares. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note 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 report on Wednesday, October 2nd. TD Cowen increased their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their target price 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. One research analyst has rated the stock with a sell rating, five have assigned 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 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.