SL Advisors LLC Sells 154 Shares of McCormick & Company, Incorporated (NYSE:MKC)

SL Advisors LLC cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,712 shares of the company’s stock after selling 154 shares during the quarter. SL Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $305,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MKC. Atomi Financial Group Inc. acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $227,000. Clean Yield Group lifted its stake in shares of McCormick & Company, Incorporated by 11.5% in the 3rd quarter. Clean Yield Group now owns 68,315 shares of the company’s stock valued at $5,622,000 after purchasing an additional 7,030 shares during the period. Davis Investment Partners LLC bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $223,000. Czech National Bank grew its stake in McCormick & Company, Incorporated by 7.0% during the third quarter. Czech National Bank now owns 51,338 shares of the company’s stock worth $4,225,000 after purchasing an additional 3,366 shares during the period. Finally, SG Americas Securities LLC grew its stake in McCormick & Company, Incorporated by 23.9% during the third quarter. SG Americas Securities LLC now owns 55,598 shares of the company’s stock worth $4,576,000 after purchasing an additional 10,734 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now owns 199,258 shares in the company, valued at $14,944,350. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MKC. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen raised their price target on shares of 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 shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America increased their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Trading Up 0.3 %

NYSE:MKC opened at $79.63 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The company has a market cap of $21.39 billion, a PE ratio of 29.06, a PEG ratio of 4.24 and a beta of 0.77. The firm has a 50-day moving average of $80.49 and a 200-day moving average of $75.48.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

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.