Barlow Wealth Partners Inc. Sells 200 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Barlow Wealth Partners Inc. cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,205 shares of the company’s stock after selling 200 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in McCormick & Company, Incorporated were worth $254,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MKC. Capital Advisors Ltd. LLC raised its holdings in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $35,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $39,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after acquiring an additional 228 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Activity at McCormick & Company, Incorporated

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

Wall Street Analyst Weigh In

MKC has been the topic of several research reports. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America increased their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Trading Up 0.0 %

Shares of NYSE:MKC traded up $0.01 during midday trading on Wednesday, reaching $79.64. 46,286 shares of the company’s stock were exchanged, compared to its average volume of 1,941,579. The firm’s 50 day simple moving average is $80.55 and its two-hundred day simple moving average is $75.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The stock has a market cap of $21.39 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 0.77. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data 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. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 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.