Landscape Capital Management L.L.C. Sells 42,463 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Landscape Capital Management L.L.C. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 78.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,474 shares of the company’s stock after selling 42,463 shares during the period. Landscape Capital Management L.L.C.’s holdings in McCormick & Company, Incorporated were worth $944,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its position in shares of McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after acquiring an additional 975,255 shares during the period. Marshall Wace LLP bought a new position in McCormick & Company, Incorporated in the second quarter worth $51,286,000. Millennium Management LLC boosted its stake in McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after buying an additional 386,320 shares in the last quarter. Covea Finance bought a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $31,740,000. Finally, E. Ohman J or Asset Management AB raised its stake in shares of McCormick & Company, Incorporated by 3,499.8% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock valued at $27,552,000 after buying an additional 325,477 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MKC. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. TD Cowen increased their target price 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 boosted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $79.57.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 20,000 shares of company stock valued at $1,565,850. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of MKC opened at $77.58 on Friday. The company has a market capitalization of $20.82 billion, a P/E ratio of 26.39, a PEG ratio of 3.44 and a beta of 0.77. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The business’s 50 day simple moving average is $79.62 and its 200-day simple moving average is $76.25. 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 (NYSE:MKC) last announced its earnings results 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 company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS 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. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

About McCormick & Company, Incorporated

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.