Berkshire Bank lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,120 shares of the company’s stock after selling 1,782 shares during the quarter. Berkshire Bank’s holdings in McCormick & Company, Incorporated were worth $1,468,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Newfound Research LLC increased its position in shares of McCormick & Company, Incorporated by 105.8% in the third quarter. Newfound Research LLC now owns 1,317 shares of the company’s stock valued at $107,000 after acquiring an additional 677 shares during the last quarter. Portland Global Advisors LLC grew its holdings in McCormick & Company, Incorporated by 5.4% during the third quarter. Portland Global Advisors LLC now owns 30,536 shares of the company’s stock worth $2,474,000 after purchasing an additional 1,570 shares during the period. Jacobs & Co. CA grew its holdings in McCormick & Company, Incorporated by 43.4% during the third quarter. Jacobs & Co. CA now owns 120,065 shares of the company’s stock worth $9,728,000 after purchasing an additional 36,337 shares during the period. Teamwork Financial Advisors LLC grew its holdings in McCormick & Company, Incorporated by 26.1% during the third quarter. Teamwork Financial Advisors LLC now owns 8,383 shares of the company’s stock worth $679,000 after purchasing an additional 1,736 shares during the period. Finally, Gofen & Glossberg LLC IL grew its holdings in McCormick & Company, Incorporated by 1.8% during the third quarter. Gofen & Glossberg LLC IL now owns 270,214 shares of the company’s stock worth $21,895,000 after purchasing an additional 4,898 shares during the period. 73.78% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Maritza Gomez Montiel sold 394 shares of the business’s stock in a transaction that occurred on Thursday, October 28th. The stock was sold at an average price of $80.84, for a total value of $31,850.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.90% of the company’s stock.
Shares of MKC stock traded up $0.08 during trading on Thursday, hitting $85.49. The company had a trading volume of 948,277 shares, compared to its average volume of 1,220,689. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.30 and a current ratio of 0.68. The firm has a market capitalization of $22.85 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 4.39 and a beta of 0.47. The stock’s 50-day moving average price is $81.98 and its 200 day moving average price is $85.42. McCormick & Company, Incorporated has a one year low of $77.85 and a one year high of $98.80.
McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Wednesday, September 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.08. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.54 billion. McCormick & Company, Incorporated had a return on equity of 19.23% and a net margin of 12.34%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 26th. Investors of record on Tuesday, October 12th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, October 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 48.40%.
McCormick & Company, Incorporated Company Profile
McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.
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