Impax Asset Management Group plc Sells 168,372 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Impax Asset Management Group plc cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 18.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 731,684 shares of the company’s stock after selling 168,372 shares during the quarter. Impax Asset Management Group plc’s holdings in McCormick & Company, Incorporated were worth $60,218,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in McCormick & Company, Incorporated by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after acquiring an additional 7,898 shares during the period. Cetera Investment Advisers increased its stake in shares of McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares during the period. SG Americas Securities LLC lifted its holdings in McCormick & Company, Incorporated by 333.8% during the 1st quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock worth $5,452,000 after purchasing an additional 54,616 shares during the last quarter. Sei Investments Co. boosted its stake in McCormick & Company, Incorporated by 11.8% in the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after purchasing an additional 16,420 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after buying an additional 6,588 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s 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 approximately $3,174,226. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $78.18 on Tuesday. 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 stock has a market capitalization of $20.98 billion, a PE ratio of 26.59, a PEG ratio of 3.60 and a beta of 0.77. The firm has a 50 day moving average of $81.09 and a 200-day moving average of $76.15. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MKC. Bank of America boosted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen lifted 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. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.