McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,264 shares of the company’s stock after selling 458 shares during the quarter. Empower Advisory Group LLC’s holdings in McCormick & Company, Incorporated were worth $680,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. HCR Wealth Advisors lifted its holdings in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after acquiring an additional 135 shares during the last quarter. Wallington Asset Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in McCormick & Company, Incorporated by 2.9% during the second 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 during the last quarter. KFG Wealth Management LLC boosted its holdings in McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after buying an additional 156 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.2 %

Shares of McCormick & Company, Incorporated stock opened at $74.92 on Friday. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The company has a market cap of $20.11 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.50 and a beta of 0.77. 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 50-day moving average price of $80.64 and a 200 day moving average price of $76.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 in the last ninety days. Corporate insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

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