BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,042 shares of the company’s stock after selling 6,172 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McCormick & Company, Incorporated were worth $3,460,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after acquiring an additional 31,306 shares during the last quarter. Cetera Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 2.4% during the 1st quarter. Cetera Advisors LLC now owns 14,660 shares of the company’s stock valued at $1,126,000 after purchasing an additional 343 shares during the last quarter. Cardinal Capital Management raised its holdings in shares of McCormick & Company, Incorporated by 1.5% during the 2nd quarter. Cardinal Capital Management now owns 90,684 shares of the company’s stock valued at $6,433,000 after buying an additional 1,315 shares in the last quarter. QRG Capital Management Inc. lifted its position in McCormick & Company, Incorporated by 8.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,714 shares of the company’s stock worth $831,000 after buying an additional 932 shares during the last quarter. Finally, Czech National Bank boosted its stake in McCormick & Company, Incorporated by 8.4% in the second quarter. Czech National Bank now owns 47,972 shares of the company’s stock worth $3,403,000 after buying an additional 3,731 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $78.00 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $78.80 and a 200-day moving average price of $76.40. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 3.35 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The business 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 business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a $0.45 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.31%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction 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. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. 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. Stifel Nicolaus boosted 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. TD Cowen upped their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. 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.