Impax Asset Management Group plc Decreases Position in McCormick & Company, Incorporated (NYSE:MKC)

Impax Asset Management Group plc trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 731,684 shares of the company's stock after selling 168,372 shares during the quarter. Impax Asset Management Group plc owned 0.27% of McCormick & Company, Incorporated worth $60,218,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MKC. Hazlett Burt & Watson Inc. boosted its stake in McCormick & Company, Incorporated by 129.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 4,903 shares of the company's stock valued at $406,000 after acquiring an additional 2,762 shares during the period. QRG Capital Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 12.0% during the 3rd quarter. QRG Capital Management Inc. now owns 13,121 shares of the company's stock worth $1,080,000 after acquiring an additional 1,407 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in McCormick & Company, Incorporated by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 117,400 shares of the company's stock worth $9,662,000 after buying an additional 839 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of McCormick & Company, Incorporated by 409.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 106,800 shares of the company's stock valued at $8,790,000 after purchasing an additional 85,835 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of McCormick & Company, Incorporated by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,964 shares of the company's stock valued at $553,000 after purchasing an additional 465 shares during the period. Institutional investors own 79.74% of the company's stock.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 22.90% of the company's stock.

Analysts Set New Price Targets

MKC has been the subject of several research reports. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. TD Cowen lifted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $79.57.

McCormick & Company, Incorporated Trading Down 0.7 %

Shares of MKC opened at $78.18 on Tuesday. The stock's fifty day simple moving average is $81.09 and its 200-day simple moving average is $76.15. 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 firm has a market capitalization of $20.98 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 3.60 and a beta of 0.77. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.15%. McCormick & Company, Incorporated's payout ratio is currently 57.14%.

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.

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