McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,980 shares of the company’s stock after selling 6,530 shares during the period. Mizuho Markets Americas LLC’s holdings in McCormick & Company, Incorporated were worth $6,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MKC. Empirical Finance LLC increased its stake in McCormick & Company, Incorporated by 2.3% during the third quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock worth $707,000 after acquiring an additional 190 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of McCormick & Company, Incorporated by 8.2% during the 3rd quarter. CIBC Asset Management Inc now owns 36,738 shares of the company’s stock worth $3,024,000 after purchasing an additional 2,794 shares during the period. Broderick Brian C increased its position in shares of McCormick & Company, Incorporated by 73.1% during the 3rd quarter. Broderick Brian C now owns 38,379 shares of the company’s stock worth $3,159,000 after purchasing an additional 16,204 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in McCormick & Company, Incorporated by 5.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,719 shares of the company’s stock valued at $718,000 after buying an additional 432 shares during the period. Finally, Metis Global Partners LLC raised its holdings in McCormick & Company, Incorporated by 1.7% in the 3rd quarter. Metis Global Partners LLC now owns 12,910 shares of the company’s stock valued at $1,062,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MKC. Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research 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, 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $73.97 on Friday. 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 52-week low of $63.67 and a 52-week high of $85.49. The firm has a market cap of $19.85 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 3.46 and a beta of 0.77. The company’s 50 day moving average is $80.30 and its two-hundred day moving average is $76.21.

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 analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

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.