International Private Wealth Advisors LLC Sells 440 Shares of McCormick & Company, Incorporated (NYSE:MKC)

International Private Wealth Advisors LLC reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 11.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,490 shares of the company’s stock after selling 440 shares during the quarter. International Private Wealth Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC raised its holdings in McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of McCormick & Company, Incorporated during the third quarter worth approximately $28,000. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the 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 transaction, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 in the last ninety days. Insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MKC shares. TD Cowen raised their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised their price target 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. Finally, BNP Paribas raised shares of 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 issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Stock Down 0.4 %

MKC traded down $0.34 during midday trading on Thursday, reaching $75.50. The company’s stock had a trading volume of 112,388 shares, compared to its average volume of 1,895,865. The stock’s 50-day moving average is $80.64 and its 200-day moving average is $76.24. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 3.50 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.23%. McCormick & Company, Incorporated’s payout ratio 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.