McCormick & Company, Incorporated (NYSE:MKC) Stake Lessened by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 28.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,341 shares of the company’s stock after selling 15,488 shares during the period. McCormick & Company, Incorporated makes up approximately 1.6% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 29th biggest position. Savoir Faire Capital Management L.P.’s holdings in McCormick & Company, Incorporated were worth $3,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MKC. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $28,000. Capital Advisors Ltd. LLC lifted its position 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 valued at $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $29,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $35,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $74.62 on Tuesday. 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 firm has a market capitalization of $20.03 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 3.38 and a beta of 0.77. The company’s fifty day moving average is $80.13 and its two-hundred day moving average is $76.22. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors 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 2.25%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MKC. Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen increased 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.57.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 corporate insiders.

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.