Concurrent Investment Advisors LLC Has $403,000 Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Concurrent Investment Advisors LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 60.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,896 shares of the company's stock after selling 7,559 shares during the quarter. Concurrent Investment Advisors LLC's holdings in McCormick & Company, Incorporated were worth $403,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company's stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of McCormick & Company, Incorporated by 4.4% in the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company's stock valued at $246,646,000 after purchasing an additional 136,080 shares during the last quarter. ProShare Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company's stock valued at $201,442,000 after purchasing an additional 60,512 shares during the last quarter. Nuance Investments LLC grew its position in shares of McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company's stock valued at $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock valued at $69,256,000 after buying an additional 975,255 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Analyst Ratings Changes

MKC has been the subject of several recent research reports. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price target 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. Finally, Bank of America boosted 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded down $0.47 during trading on Monday, hitting $77.02. 1,590,865 shares of the company were exchanged, compared to its average volume of 1,907,840. The company has a market capitalization of $20.67 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. 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 business's 50 day moving average is $80.92 and its 200-day moving average is $76.22.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.18%. McCormick & Company, Incorporated's payout ratio is presently 57.14%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares of the company's stock, valued at $2,210,237.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 15,000 shares of company stock valued at $1,179,150 in the last 90 days. Corporate insiders own 22.90% of the company's stock.

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.