CFS Investment Advisory Services LLC Decreases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

CFS Investment Advisory Services LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,539 shares of the company’s stock after selling 750 shares during the period. CFS Investment Advisory Services LLC’s holdings in McCormick & Company, Incorporated were worth $1,279,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $28,000. OFI Invest Asset Management purchased a new stake in McCormick & Company, Incorporated in the second quarter worth $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the second quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated during the 2nd quarter valued at $39,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $77.58 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The firm’s 50-day simple moving average is $79.62 and its two-hundred day simple moving average is $76.25. The stock has a market cap of $20.82 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results 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 return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 in the last quarter. Corporate insiders own 22.90% of the company’s stock.

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.