Reik & CO. LLC Lowers Position in McCormick & Company, Incorporated (NYSE:MKC)

Reik & CO. LLC cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 463,848 shares of the company’s stock after selling 5,176 shares during the period. McCormick & Company, Incorporated comprises about 9.1% of Reik & CO. LLC’s investment portfolio, making the stock its 3rd largest position. Reik & CO. LLC owned about 0.17% of McCormick & Company, Incorporated worth $38,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its stake 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 buying an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Finally, Friedenthal Financial acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $49,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on MKC shares. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America boosted their price objective on 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 issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Trading Down 0.4 %

MKC stock opened at $76.34 on Friday. The company has a market cap of $20.49 billion, a P/E ratio of 25.97, a PEG ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $81.02 and a 200-day moving average of $76.19.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.65 earnings per share. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given 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 dividend yield of 2.20%. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 22.90% of the stock is currently owned by corporate insiders.

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.