Tobam Reduces Position in McCormick & Company, Incorporated (NYSE:MKC)

Tobam trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 24.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,280 shares of the company's stock after selling 8,341 shares during the period. Tobam's holdings in McCormick & Company, Incorporated were worth $2,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKC. State of Alaska Department of Revenue raised its holdings in McCormick & Company, Incorporated by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company's stock valued at $2,094,000 after acquiring an additional 135 shares in the last quarter. HCR Wealth Advisors raised its holdings in shares of McCormick & Company, Incorporated by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company's stock worth $381,000 after buying an additional 135 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company's stock valued at $357,000 after purchasing an additional 141 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company's stock valued at $1,193,000 after acquiring an additional 156 shares in the last quarter. Finally, KFG Wealth Management LLC grew its holdings in McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company's stock worth $740,000 after acquiring an additional 156 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

McCormick & Company, Incorporated Stock Up 0.1 %

Shares of NYSE:MKC traded up $0.07 during midday trading on Thursday, reaching $79.78. The company's stock had a trading volume of 1,058,912 shares, compared to its average volume of 1,943,785. The firm has a market capitalization of $21.43 billion, a P/E ratio of 29.12, a PEG ratio of 4.24 and a beta of 0.77. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49. The firm has a 50 day moving average of $80.60 and a 200-day moving average of $75.58.

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 for the quarter, topping analysts' consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned $0.65 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.11%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MKC shares. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective 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. Bank of America increased their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Citigroup upgraded McCormick & Company, Incorporated from a "sell" rating to a "neutral" rating and lifted their price target for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $79.57.

McCormick & Company, Incorporated Company 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.