Camden National Bank Reduces Position in McCormick & Company, Incorporated (NYSE:MKC)

Camden National Bank cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,588 shares of the company’s stock after selling 4,885 shares during the period. Camden National Bank’s holdings in McCormick & Company, Incorporated were worth $9,431,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at $28,000. Capital Advisors Ltd. LLC lifted its holdings in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated in the second quarter valued at about $29,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $40,000. Finally, 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the second quarter valued at about $35,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America increased their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, TD Cowen increased their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One research 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 company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $79.57.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.5 %

NYSE MKC opened at $77.58 on Friday. The stock’s 50-day moving average price is $79.62 and its 200-day moving average price is $76.25. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49. The company has a market capitalization of $20.82 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 company earned $0.65 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

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.