Brown Brothers Harriman & Co. Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Brown Brothers Harriman & Co. trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,458 shares of the company’s stock after selling 1,525 shares during the period. Brown Brothers Harriman & Co.’s holdings in McCormick & Company, Incorporated were worth $943,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $20,227,000. Hemenway Trust Co LLC increased its position in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after acquiring an additional 14,652 shares during the period. Cetera Investment Advisers boosted its position in McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of McCormick & Company, Incorporated by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after purchasing an additional 6,588 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the transaction, the director now owns 40,436 shares in the company, valued at $3,194,444. This trade represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MKC shares. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America boosted their price objective 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. TD Cowen upped 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, Stifel Nicolaus lifted their target price 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of McCormick & Company, Incorporated stock opened at $77.80 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. 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 $20.88 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.54 and a beta of 0.77. The company has a fifty day moving average of $79.33 and a 200 day moving average of $76.28.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping 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 return on equity of 15.30% and a net margin of 11.87%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.31%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 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.