Douglass Winthrop Advisors LLC Cuts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Douglass Winthrop Advisors LLC decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,050 shares of the company’s stock after selling 2,330 shares during the period. Douglass Winthrop Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $827,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its position in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Capital Performance Advisors LLP bought a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. OFI Invest Asset Management purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last three months. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

NYSE:MKC opened at $77.23 on Tuesday. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The stock’s fifty day moving average price is $79.47 and its two-hundred day moving average price is $76.27. 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 cap of $20.73 billion, a P/E ratio of 26.27, a P/E/G ratio of 3.54 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.33%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MKC shares. TD Cowen boosted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.57.

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.