Savoir Faire Capital Management L.P. Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Savoir Faire Capital Management L.P. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 28.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,341 shares of the company's stock after selling 15,488 shares during the quarter. McCormick & Company, Incorporated comprises about 1.6% of Savoir Faire Capital Management L.P.'s holdings, making the stock its 29th biggest holding. Savoir Faire Capital Management L.P.'s holdings in McCormick & Company, Incorporated were worth $3,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Drive Wealth Management LLC purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at $206,000. Strengthening Families & Communities LLC lifted its holdings in shares of McCormick & Company, Incorporated by 8.1% in the 3rd quarter. Strengthening Families & Communities LLC now owns 31,283 shares of the company's stock valued at $2,575,000 after purchasing an additional 2,354 shares during the last quarter. TrinityPoint Wealth LLC boosted its position in shares of McCormick & Company, Incorporated by 55.8% in the 3rd quarter. TrinityPoint Wealth LLC now owns 8,401 shares of the company's stock valued at $691,000 after purchasing an additional 3,010 shares during the period. Clarkston Capital Partners LLC grew its stake in McCormick & Company, Incorporated by 1.3% during the 3rd quarter. Clarkston Capital Partners LLC now owns 115,346 shares of the company's stock worth $9,493,000 after buying an additional 1,505 shares during the last quarter. Finally, Swiss National Bank increased its position in McCormick & Company, Incorporated by 0.3% during the third quarter. Swiss National Bank now owns 747,900 shares of the company's stock worth $61,552,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, November 1st. The stock was 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 directly owns 40,436 shares of the company's stock, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. Corporate insiders own 22.90% of the company's stock.

Wall Street Analyst Weigh In

MKC has been the subject of several research analyst reports. TD Cowen increased their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Bank of America increased their price target 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. Stifel Nicolaus lifted 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 note on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. One 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, the company presently has an average rating of "Hold" and an average target price of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded up $0.69 on Tuesday, reaching $75.31. 1,906,483 shares of the stock were exchanged, compared to its average volume of 1,906,090. The firm has a market capitalization of $20.21 billion, a PE ratio of 25.38, a PEG ratio of 3.38 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 business has a fifty day moving average price of $80.13 and a two-hundred day moving average price of $76.22. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

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 (EPS) for the quarter, topping the consensus estimate 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 return on equity of 15.30% and a net margin of 11.87%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.39%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 57.14%.

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.