Plato Investment Management Ltd lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,658 shares of the company’s stock after selling 3,374 shares during the quarter. Plato Investment Management Ltd’s holdings in McCormick & Company, Incorporated were worth $1,534,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Sei Investments Co. raised its stake in McCormick & Company, Incorporated by 11.8% during the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after purchasing an additional 16,420 shares during the period. QRG Capital Management Inc. increased its stake in McCormick & Company, Incorporated by 30.5% in the 1st quarter. QRG Capital Management Inc. now owns 10,782 shares of the company’s stock worth $828,000 after acquiring an additional 2,523 shares during the last quarter. Russell Investments Group Ltd. increased its stake in McCormick & Company, Incorporated by 12.5% in the 1st quarter. Russell Investments Group Ltd. now owns 105,523 shares of the company’s stock worth $8,093,000 after acquiring an additional 11,751 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in McCormick & Company, Incorporated by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after acquiring an additional 7,898 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in McCormick & Company, Incorporated by 12.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 389,871 shares of the company’s stock worth $29,946,000 after acquiring an additional 43,988 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.
Insider Activity at McCormick & Company, Incorporated
In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on MKC
McCormick & Company, Incorporated Stock Performance
NYSE MKC opened at $74.92 on Friday. The company has a market cap of $20.11 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.46 and a beta of 0.77. 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 business’s 50 day moving average price is $80.64 and its 200-day moving average price is $76.24. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business earned $0.65 EPS. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 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.
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