McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 49.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,900 shares of the company's stock after selling 25,800 shares during the period. Beacon Harbor Wealth Advisors Inc.'s holdings in McCormick & Company, Incorporated were worth $2,132,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MKC. Capital Advisors Ltd. LLC lifted its position in McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock worth $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated in the second quarter valued at $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated in the second quarter valued at $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $39,000. Finally, Friedenthal Financial purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $49,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MKC shares. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Bank of America lifted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Finally, TD Cowen increased their target price 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. One investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $1.12 during mid-day trading on Friday, hitting $77.46. The stock had a trading volume of 1,391,476 shares, compared to its average volume of 1,909,301. 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 company has a market cap of $20.79 billion, a PE ratio of 26.35, a PEG ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The company's fifty day simple moving average is $80.92 and its two-hundred day simple moving average is $76.21.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm's revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.17%. McCormick & Company, Incorporated's payout ratio is currently 57.14%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total value of $395,000.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,194,444. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 15,000 shares of company stock valued at $1,179,150. 22.90% of the stock is currently owned by 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.