Independent Advisor Alliance Sells 5,210 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Independent Advisor Alliance cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,026 shares of the company’s stock after selling 5,210 shares during the period. Independent Advisor Alliance’s holdings in McCormick & Company, Incorporated were worth $2,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at about $28,000. Capital Advisors Ltd. LLC increased its position in shares of 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 purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth approximately $29,000. Kennebec Savings Bank bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth approximately $40,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth approximately $35,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of MKC opened at $77.23 on Tuesday. The firm has a market cap of $20.73 billion, a P/E ratio of 26.27, a P/E/G ratio of 3.54 and a beta of 0.77. The stock has a 50 day simple moving average of $79.47 and a two-hundred day simple moving average of $76.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year 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, beating analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MKC shares. Bank of America upped their price objective on shares of 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 shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.57.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s 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 completion of the transaction, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This 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 available through this hyperlink. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by company insiders.

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.