McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 20.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,505 shares of the company’s stock after selling 902 shares during the period. Synovus Financial Corp’s holdings in McCormick & Company, Incorporated were worth $288,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. State Street Corp boosted its holdings in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC grew its position in shares of McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after buying an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after buying an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after buying an additional 568,276 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after acquiring an additional 30,696 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of several research analyst reports. Bank of America boosted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” 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 company a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $81.00.

McCormick & Company, Incorporated Stock Down 1.4 %

Shares of McCormick & Company, Incorporated stock opened at $79.17 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The business’s fifty day moving average price is $78.39 and its two-hundred day moving average price is $76.95. The company has a market capitalization of $21.25 billion, a P/E ratio of 26.93, a PEG ratio of 3.48 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results 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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.22%.

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.