McCormick & Company, Incorporated (NYSE:MKC) Stake Decreased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,850 shares of the company’s stock after selling 6,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in McCormick & Company, Incorporated were worth $7,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth $28,000. Capital Advisors Ltd. LLC lifted its holdings in 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 purchasing an additional 175 shares during the period. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $29,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $40,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $35,000. 79.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on MKC shares. 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 report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen boosted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock 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 research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average 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 transaction of $391,650.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 corporate insiders.

McCormick & Company, Incorporated Stock Performance

MKC opened at $78.37 on Tuesday. 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 market cap of $21.03 billion, a PE ratio of 26.66, a P/E/G ratio of 3.58 and a beta of 0.77. The business has a fifty day simple moving average of $78.91 and a 200-day simple moving average of $76.37. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate 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 revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared 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 is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

McCormick & Company, Incorporated 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.