BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 6,172 Shares of McCormick & Company, Incorporated (NYSE:MKC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,042 shares of the company’s stock after selling 6,172 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McCormick & Company, Incorporated were worth $3,460,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MKC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after buying an additional 177,567 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after acquiring an additional 30,696 shares during the period. Nuance Investments LLC boosted its position in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Point72 Asset Management L.P. grew its stake in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after purchasing an additional 975,255 shares during the period. Finally, Swiss National Bank increased its position in shares of McCormick & Company, Incorporated by 0.3% during the 3rd quarter. Swiss National Bank now owns 747,900 shares of the company’s stock valued at $61,552,000 after purchasing an additional 2,500 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MKC shares. Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. 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 research note on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $79.57.

Insider Activity

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.5 %

McCormick & Company, Incorporated stock opened at $78.00 on Wednesday. The firm has a 50 day simple moving average of $78.80 and a 200 day simple moving average of $76.40. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 3.35 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. On average, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

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.