McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 549,188 shares of the company’s stock after selling 2,021 shares during the period. Mawer Investment Management Ltd.’s holdings in McCormick & Company, Incorporated were worth $45,198,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $20,227,000. Hemenway Trust Co LLC grew its holdings in McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares during the period. Cetera Investment Advisers grew its holdings in McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares during the period. Boston Trust Walden Corp grew its holdings in McCormick & Company, Incorporated by 1.1% in the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after purchasing an additional 6,588 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in McCormick & Company, Incorporated by 16.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 284,729 shares of the company’s stock valued at $21,870,000 after purchasing an additional 41,042 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price 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. 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Stock Up 0.6 %

MKC traded up $0.47 during trading on Monday, hitting $74.44. The company had a trading volume of 177,058 shares, compared to its average volume of 1,898,117. The company has a market cap of $19.98 billion, a PE ratio of 25.16, a P/E/G ratio of 3.38 and a beta of 0.77. The business has a 50-day moving average of $80.30 and a 200-day moving average of $76.22. 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 1-year low of $63.67 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.26%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This 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 accessible through the SEC website. Over the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated 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.