McCormick & Company, Incorporated (NYSE:MKC) Holdings Cut by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,850 shares of the company’s stock after selling 6,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in McCormick & Company, Incorporated were worth $7,065,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in McCormick & Company, Incorporated by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after purchasing an additional 177,567 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after buying an additional 30,696 shares during the last quarter. Nuance Investments LLC grew its stake in shares of McCormick & Company, Incorporated by 10.5% in the 2nd 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 in the last quarter. Point72 Asset Management L.P. increased its holdings in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after buying an additional 975,255 shares during the last quarter. Finally, Swiss National Bank raised its position in McCormick & Company, Incorporated by 0.3% during the third quarter. Swiss National Bank now owns 747,900 shares of the company’s stock valued at $61,552,000 after acquiring an additional 2,500 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 0.1 %

McCormick & Company, Incorporated stock opened at $78.37 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two week high of $85.49. The firm has a fifty day moving average price of $78.91 and a two-hundred day moving average price of $76.37. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 3.58 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion during 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 revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a dividend of $0.45 per share. 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 2.30%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Analysts Set New Price Targets

Several research firms have commented on MKC. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Bank of America raised their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen upped their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One investment 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, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $79.57.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last ninety days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Company 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.