McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 69.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,444 shares of the company's stock after selling 42,572 shares during the quarter. Intech Investment Management LLC's holdings in McCormick & Company, Incorporated were worth $1,518,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nuance Investments LLC raised its position in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company's stock worth $74,644,000 after acquiring an additional 99,741 shares in the last quarter. Point72 Asset Management L.P. raised its position in 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 worth $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Swiss National Bank raised its position in McCormick & Company, Incorporated by 0.3% in the third quarter. Swiss National Bank now owns 747,900 shares of the company's stock worth $61,552,000 after acquiring an additional 2,500 shares in the last quarter. Millennium Management LLC raised its position in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company's stock worth $52,041,000 after acquiring an additional 386,320 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in McCormick & Company, Incorporated in the second quarter worth $51,286,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded up $0.52 during midday trading on Tuesday, reaching $77.80. 1,239,370 shares of the company were exchanged, compared to its average volume of 1,904,701. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 3.54 and a beta of 0.77. The firm's 50-day simple moving average is $79.33 and its 200-day simple moving average is $76.28. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. This is a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.22%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm'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 sale, the director now directly owns 28,217 shares of the company's stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 20,000 shares of company stock valued at $1,565,850. Insiders own 22.90% of the company's stock.

Analysts Set New Price Targets

MKC has been the subject of several research analyst reports. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research report 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $79.57.

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.