Northcape Wealth Management LLC Sells 2,522 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Northcape Wealth Management LLC reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 49.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,571 shares of the company’s stock after selling 2,522 shares during the quarter. Northcape Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $212,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Advisors Ltd. LLC raised its stake in McCormick & Company, Incorporated by 87.5% during 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 period. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in McCormick & Company, Incorporated during the second quarter worth $39,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the topic of several recent research reports. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen lifted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their price target 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. Finally, Bank of America lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.57.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last ninety days. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Down 1.3 %

Shares of McCormick & Company, Incorporated stock opened at $73.97 on Friday. The firm has a market cap of $19.85 billion, a PE ratio of 25.16, a P/E/G ratio of 3.46 and a beta of 0.77. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a fifty day moving average price of $80.30 and a 200-day moving average price of $76.21.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

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.