McCormick & Company, Incorporated (NYSE:MKC) Holdings Decreased by Citigroup Inc.

Citigroup Inc. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 218,686 shares of the company's stock after selling 17,395 shares during the quarter. Citigroup Inc. owned 0.08% of McCormick & Company, Incorporated worth $17,998,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its holdings in McCormick & Company, Incorporated by 10.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,616 shares of the company's stock worth $349,000 after acquiring an additional 419 shares during the period. California State Teachers Retirement System grew its stake in shares of McCormick & Company, Incorporated by 1.1% during the 1st quarter. California State Teachers Retirement System now owns 410,913 shares of the company's stock worth $31,562,000 after purchasing an additional 4,397 shares during the period. Tidal Investments LLC increased its holdings in shares of McCormick & Company, Incorporated by 32.3% in the 1st quarter. Tidal Investments LLC now owns 18,922 shares of the company's stock valued at $1,448,000 after purchasing an additional 4,619 shares in the last quarter. Plato Investment Management Ltd lifted its stake in shares of McCormick & Company, Incorporated by 1,426.3% in the first quarter. Plato Investment Management Ltd now owns 3,419 shares of the company's stock valued at $263,000 after purchasing an additional 3,195 shares during the period. Finally, Swedbank AB purchased a new stake in McCormick & Company, Incorporated during the first quarter worth about $16,386,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Down 0.0 %

Shares of MKC traded down $0.02 during mid-day trading on Thursday, hitting $77.79. The company had a trading volume of 1,156,661 shares, compared to its average volume of 1,901,448. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The business's 50-day simple moving average is $79.10 and its 200-day simple moving average is $76.30. The stock has a market cap of $20.88 billion, a PE ratio of 26.46, a P/E/G ratio of 3.53 and a beta of 0.77. 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 (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.65 earnings per share. McCormick & Company, Incorporated's revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

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

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the director now owns 40,436 shares of the company's stock, valued at approximately $3,194,444. The trade was a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. 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 report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" 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 report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average price target of $79.57.

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.