McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,881 shares of the company’s stock after selling 230 shares during the period. Moors & Cabot Inc.’s holdings in McCormick & Company, Incorporated were worth $251,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter worth approximately $29,000. Headlands Technologies LLC acquired a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. Harvest Fund Management Co. Ltd lifted its position in McCormick & Company, Incorporated by 177.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $37,000 after buying an additional 286 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $40,000. Finally, Point72 Hong Kong Ltd acquired a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $44,000. 78.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent research reports. TheStreet cut shares of McCormick & Company, Incorporated from a “b-” rating to a “c+” rating in a research report on Tuesday, October 3rd. HSBC started coverage on shares of McCormick & Company, Incorporated in a research report on Friday, September 22nd. They set a “hold” rating and a $86.00 target price on the stock. StockNews.com started coverage on shares of McCormick & Company, Incorporated in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus reduced their target price on shares of McCormick & Company, Incorporated from $82.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, October 4th. Finally, Bank of America reduced their target price on shares of McCormick & Company, Incorporated from $100.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price of $78.20.

Insider Transactions at McCormick & Company, Incorporated

In other news, VP Jeffery D. Schwartz sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $64.37, for a total transaction of $128,740.00. Following the completion of the transaction, the vice president now owns 55,174 shares in the company, valued at $3,551,550.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.00% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.1 %

Shares of NYSE:MKC opened at $65.63 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The company has a fifty day simple moving average of $67.96 and a 200 day simple moving average of $80.48. The firm has a market cap of $17.61 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 3.52 and a beta of 0.69.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 3rd. The company reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. McCormick & Company, Incorporated had a net margin of 9.80% and a return on equity of 14.15%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.65 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.56 annualized dividend and a dividend yield of 2.38%. McCormick & Company, Incorporated’s dividend payout ratio is currently 65.00%.

McCormick & Company, Incorporated 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.