McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Centre Asset Management LLC

Centre Asset Management LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,382 shares of the company’s stock after selling 13,775 shares during the period. McCormick & Company, Incorporated accounts for approximately 2.7% of Centre Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding. Centre Asset Management LLC owned approximately 0.06% of McCormick & Company, Incorporated worth $11,618,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $39,000. Kennebec Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth $40,000. Friedenthal Financial bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth $49,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in McCormick & Company, Incorporated during the third quarter worth about $50,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen raised their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America increased their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $81.00.

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 transaction of $391,650.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $0.37 during midday trading on Friday, reaching $76.25. The company had a trading volume of 65,707 shares, compared to its average volume of 556,260. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.46 billion, a P/E ratio of 25.94, a P/E/G ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $63.88 and a 52-week high of $85.49. The company’s 50 day moving average price is $77.81 and its 200 day moving average price is $77.53.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share 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 during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.36%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is presently 61.22%.

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.