Main Street Financial Solutions LLC Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Main Street Financial Solutions LLC reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 7.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,950 shares of the company’s stock after selling 549 shares during the quarter. Main Street Financial Solutions LLC’s holdings in McCormick & Company, Incorporated were worth $572,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MKC. Vanguard Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after acquiring an additional 883,327 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in McCormick & Company, Incorporated by 4.4% in the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after purchasing an additional 136,080 shares during the last quarter. Nuance Investments LLC boosted its position in McCormick & Company, Incorporated by 10.5% during the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after buying an additional 99,741 shares during the period. Point72 Asset Management L.P. grew its stake in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after buying an additional 975,255 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after buying an additional 386,320 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $74.92 on Friday. The firm’s fifty day simple moving average is $80.64 and its 200 day simple moving average is $76.24. The stock has a market cap of $20.11 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 3.46 and a beta of 0.77. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last quarter. 22.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America raised their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a 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. Finally, Stifel Nicolaus increased their price target on shares of 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 equities 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $79.57.

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.