William Allan Corp Sells 3,552 Shares of McCormick & Company, Incorporated (NYSE:MKC)

William Allan Corp lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 37.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,885 shares of the company’s stock after selling 3,552 shares during the quarter. William Allan Corp’s holdings in McCormick & Company, Incorporated were worth $484,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MKC. Capital Advisors Ltd. LLC boosted its stake in shares of McCormick & Company, Incorporated by 87.5% in the 2nd 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 last quarter. Capital Performance Advisors LLP bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $28,000. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $39,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.0 %

Shares of MKC stock opened at $77.79 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The company’s fifty day moving average price is $79.10 and its 200-day moving average price is $76.30. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 3.55 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

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

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on MKC shares. Bank of America boosted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research 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 target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.57.

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.