Massachusetts Financial Services Co. MA Sells 79,222 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Massachusetts Financial Services Co. MA decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,808,198 shares of the company’s stock after selling 79,222 shares during the period. Massachusetts Financial Services Co. MA owned about 1.42% of McCormick & Company, Incorporated worth $313,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital Advisors Ltd. LLC increased its position in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the period. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated during the 3rd quarter worth $28,000. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $39,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $77.95 on Friday. The firm’s fifty day simple moving average is $79.74 and its two-hundred day simple moving average is $76.24. The firm has a market capitalization of $20.92 billion, a P/E ratio of 26.51, a P/E/G ratio of 3.44 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results 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. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

MKC has been the topic of several research reports. Bank of America raised their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company 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 research note on Wednesday, October 2nd. Finally, TD Cowen boosted their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.57.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares of the company’s stock, valued at $3,174,226. This trade represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is 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.