McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 15.9% during the third quarter, Holdings Channel.com reports. The fund owned 2,721 shares of the company’s stock after selling 516 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MKC. Peapack Gladstone Financial Corp lifted its position in shares of McCormick & Company, Incorporated by 0.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 76,831 shares of the company’s stock valued at $6,324,000 after buying an additional 632 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in McCormick & Company, Incorporated by 10.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company’s stock valued at $7,687,000 after purchasing an additional 8,671 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of McCormick & Company, Incorporated by 35.1% in the third quarter. Sunbelt Securities Inc. now owns 873 shares of the company’s stock valued at $72,000 after purchasing an additional 227 shares during the period. Toronto Dominion Bank increased its stake in shares of McCormick & Company, Incorporated by 8.4% during the third quarter. Toronto Dominion Bank now owns 137,301 shares of the company’s stock worth $11,300,000 after purchasing an additional 10,605 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of McCormick & Company, Incorporated by 6.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,264 shares of the company’s stock worth $761,000 after purchasing an additional 528 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $78.86 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The company has a market capitalization of $21.16 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 3.48 and a beta of 0.75. The firm’s 50-day moving average is $78.33 and its two-hundred day moving average is $77.06. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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. 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm 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 is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.28%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company 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. Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.00.

McCormick & Company, Incorporated Company 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.