McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 22.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,226 shares of the company’s stock after selling 3,256 shares during the period. Kesler Norman & Wride LLC’s holdings in McCormick & Company, Incorporated were worth $924,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MKC. Capital Advisors Ltd. LLC boosted its stake in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Strategic Investment Solutions Inc. IL purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $39,000. Finally, Farmers & Merchants Investments Inc. grew its stake in McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MKC. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their target price 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. TD Cowen increased their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Trading Down 1.0 %

McCormick & Company, Incorporated stock opened at $79.38 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 4.24 and a beta of 0.77. The company has a 50 day moving average price of $80.43 and a 200 day moving average price of $75.41.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results 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 11.07% and a return on equity of 14.63%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s revenue was down .3% compared to the same quarter last year. Research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be given a $0.42 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 22.90% of the company’s stock.

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.