McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,386 shares of the company's stock after selling 6,752 shares during the period. Handelsbanken Fonder AB owned about 0.06% of McCormick & Company, Incorporated worth $13,858,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its holdings in McCormick & Company, Incorporated by 23.9% in the 3rd quarter. SG Americas Securities LLC now owns 55,598 shares of the company's stock valued at $4,576,000 after purchasing an additional 10,734 shares in the last quarter. Czech National Bank grew its stake in shares of McCormick & Company, Incorporated by 7.0% in the third quarter. Czech National Bank now owns 51,338 shares of the company's stock valued at $4,225,000 after buying an additional 3,366 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $227,000. Sanctuary Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $5,298,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BNP Paribas raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Bank of America lifted 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. Citigroup upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen raised 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. Finally, Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock 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 given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $79.57.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company's stock, valued at approximately $14,944,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Down 1.0 %

Shares of MKC stock traded down $0.81 during trading hours on Monday, hitting $79.38. 1,676,819 shares of the company were exchanged, compared to its average volume of 1,954,160. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 4.24 and a beta of 0.77. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The business's 50-day simple moving average is $80.43 and its two-hundred day simple moving average is $75.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data 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. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the business posted $0.65 earnings per share. The firm's revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.31%.

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.