Northwest & Ethical Investments L.P. Reduces Position in McCormick & Company, Incorporated (NYSE:MKC)

Northwest & Ethical Investments L.P. reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 17.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,950 shares of the company’s stock after selling 2,088 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in McCormick & Company, Incorporated were worth $819,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. Capital Advisors Ltd. LLC raised 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 valued at $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $29,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the third quarter worth approximately $40,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.7 %

MKC opened at $78.35 on Friday. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The firm has a 50 day moving average price of $79.01 and a 200 day moving average price of $76.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The company has a market cap of $21.03 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current 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. The ex-dividend date is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.30%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 over the last quarter. 22.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MKC has been the topic of several analyst reports. TD Cowen raised their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.57.

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.