Sanctuary Advisors LLC Sells 31,007 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sanctuary Advisors LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 44.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,949 shares of the company’s stock after selling 31,007 shares during the quarter. Sanctuary Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $3,022,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MKC. State Street Corp lifted its holdings in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after buying an additional 1,114,706 shares during the period. Point72 Asset Management L.P. lifted its holdings in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after buying an additional 975,255 shares during the period. Marshall Wace LLP acquired a new position in McCormick & Company, Incorporated in the second quarter valued at $51,286,000. Benjamin Edwards Inc. lifted its holdings in McCormick & Company, Incorporated by 2,778.8% in the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after buying an additional 441,048 shares during the period. Finally, Millennium Management LLC lifted its holdings in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after buying an additional 386,320 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports 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 report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Stifel Nicolaus upped 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. Finally, TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.00.

McCormick & Company, Incorporated Trading Up 0.2 %

MKC opened at $80.31 on Wednesday. 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 fifty-two week low of $63.88 and a fifty-two week high of $85.49. The firm has a market capitalization of $21.55 billion, a PE ratio of 27.32, a P/E/G ratio of 3.48 and a beta of 0.75. The company’s 50-day moving average is $78.40 and its 200 day moving average is $76.93.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data 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 the consensus estimate of $1.67 billion. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,194,444. This represents a 11.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 in the last three months. Company insiders own 22.90% of the company’s stock.

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.