Sky Investment Group LLC Sells 200 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sky Investment Group LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,597 shares of the company’s stock after selling 200 shares during the quarter. Sky Investment Group LLC’s holdings in McCormick & Company, Incorporated were worth $461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its position in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after purchasing an additional 975,255 shares during the last quarter. Nuance Investments LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $73,160,000. Vanguard Group Inc. grew its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the period. Marshall Wace LLP acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $51,286,000. Finally, Millennium Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of McCormick & Company, Incorporated stock traded down $0.68 during trading on Tuesday, hitting $77.38. The company’s stock had a trading volume of 283,098 shares, compared to its average volume of 1,919,614. McCormick & Company, Incorporated has a 52 week low of $59.45 and a 52 week high of $85.49. The company has a market capitalization of $20.79 billion, a PE ratio of 28.49, a P/E/G ratio of 3.66 and a beta of 0.77. The company has a fifty day simple moving average of $81.05 and a two-hundred day simple moving average of $75.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share 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 the consensus estimate of $1.67 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared 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. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note 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, 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. One 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 stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $79.57.

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.