Diversified Trust Co Has $1.19 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Diversified Trust Co lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,409 shares of the company’s stock after selling 3,091 shares during the quarter. Diversified Trust Co’s holdings in McCormick & Company, Incorporated were worth $1,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Point72 Asset Management L.P. boosted its holdings in McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the last quarter. Nuance Investments LLC acquired a new position in McCormick & Company, Incorporated during the first quarter worth $73,160,000. Vanguard Group Inc. boosted its holdings in McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Marshall Wace LLP acquired a new position in McCormick & Company, Incorporated during the second quarter worth $51,286,000. Finally, Millennium Management LLC boosted its holdings in McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after purchasing an additional 386,320 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $79.63 on Wednesday. The firm has a market capitalization of $21.39 billion, a PE ratio of 29.06, a PEG ratio of 4.24 and a beta of 0.77. The company’s 50-day moving average is $80.49 and its 200-day moving average is $75.48. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49. 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 (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.90% of the stock is currently owned by corporate insiders.

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.