Virtu Financial LLC Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Virtu Financial LLC reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 74.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,899 shares of the company’s stock after selling 19,972 shares during the period. Virtu Financial LLC’s holdings in McCormick & Company, Incorporated were worth $568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in McCormick & Company, Incorporated in the second quarter valued at approximately $29,000. Neo Ivy Capital Management purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $3,688,000. Hall Laurie J Trustee boosted its stake in McCormick & Company, Incorporated by 2,297.6% during the 2nd quarter. Hall Laurie J Trustee now owns 29,970 shares of the company’s stock worth $2,126,000 after purchasing an additional 28,720 shares during the period. Baker Chad R grew its position in McCormick & Company, Incorporated by 90.7% during the 2nd quarter. Baker Chad R now owns 10,715 shares of the company’s stock worth $760,000 after purchasing an additional 5,095 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in McCormick & Company, Incorporated by 9.0% in the second quarter. Atria Wealth Solutions Inc. now owns 16,292 shares of the company’s stock valued at $1,156,000 after purchasing an additional 1,343 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated 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 value of $391,650.00. Following the sale, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 20,000 shares of company stock valued at $1,565,850 in the last ninety days. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $80.56 on Friday. The company has a market cap of $21.62 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 3.48 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $63.88 and a one year high of $85.49. The business has a fifty day moving average of $78.37 and a two-hundred day moving average of $76.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 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 during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share 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. Investors of record on Monday, December 30th will be issued a $0.45 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.23%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.00.

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.