McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by ING Groep NV

ING Groep NV lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 38.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,705 shares of the company’s stock after selling 20,670 shares during the period. ING Groep NV’s holdings in McCormick & Company, Incorporated were worth $2,774,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. HCR Wealth Advisors grew its stake in shares of McCormick & Company, Incorporated by 2.6% in the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after acquiring an additional 135 shares in the last quarter. Wallington Asset Management LLC boosted its holdings in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after purchasing an additional 136 shares during the period. Aptus Capital Advisors LLC grew its stake in McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after purchasing an additional 141 shares in the last quarter. KFG Wealth Management LLC increased its holdings in McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after purchasing an additional 156 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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. Company insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. 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 report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, 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 note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Stock Down 1.3 %

Shares of NYSE:MKC opened at $73.97 on Friday. The firm has a 50 day simple moving average of $80.30 and a 200-day simple moving average of $76.21. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $19.85 billion, a PE ratio of 25.16, a P/E/G ratio of 3.46 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share 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 analysts’ expectations 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 quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

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.