Garner Asset Management Corp Sells 1,318 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Garner Asset Management Corp lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,897 shares of the company’s stock after selling 1,318 shares during the quarter. Garner Asset Management Corp’s holdings in McCormick & Company, Incorporated were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MKC. Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth about $20,227,000. Hemenway Trust Co LLC lifted its holdings in shares of McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after acquiring an additional 58,511 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after acquiring an additional 14,652 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after acquiring an additional 31,306 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of McCormick & Company, Incorporated by 1.1% in 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 during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,194,444. This trade represents a 11.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of several analyst reports. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. TD Cowen raised their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America raised their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Trading Down 0.5 %

NYSE MKC opened at $77.58 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The company’s 50-day simple moving average is $79.62 and its two-hundred day simple moving average is $76.25. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted its 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 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 company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) 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.