Gofen & Glossberg LLC IL cut its stake in shares of McCormick & Co. (NYSE:MKC) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,351 shares of the company’s stock after selling 308 shares during the period. Gofen & Glossberg LLC IL owned approximately 0.13% of McCormick & Co. worth $15,822,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Coconut Grove Bank raised its stake in shares of McCormick & Co. by 1.1% in the second quarter. Coconut Grove Bank now owns 1,145 shares of the company’s stock valued at $122,000 after buying an additional 12 shares during the period. Synovus Financial Corp raised its stake in shares of McCormick & Co. by 0.6% in the second quarter. Synovus Financial Corp now owns 2,356 shares of the company’s stock valued at $250,000 after buying an additional 15 shares during the period. HM Capital Management LLC raised its stake in shares of McCormick & Co. by 0.5% in the second quarter. HM Capital Management LLC now owns 3,641 shares of the company’s stock valued at $388,000 after buying an additional 17 shares during the period. Mission Wealth Management LLC raised its stake in shares of McCormick & Co. by 1.0% in the second quarter. Mission Wealth Management LLC now owns 2,342 shares of the company’s stock valued at $250,000 after buying an additional 24 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of McCormick & Co. by 2.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,931 shares of the company’s stock valued at $281,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 73.78% of the company’s stock.

Institutional Ownership by Quarter for McCormick & Co. (NYSE:MKC)

McCormick & Co. (NYSE:MKC) traded up 0.75% on Monday, reaching $91.88. The company had a trading volume of 550,146 shares. McCormick & Co. has a 12 month low of $78.45 and a 12 month high of $107.84. The firm has a 50 day moving average price of $94.18 and a 200-day moving average price of $98.77. The stock has a market capitalization of $11.58 billion, a price-to-earnings ratio of 25.37 and a beta of 0.50.

McCormick & Co. (NYSE:MKC) last announced its quarterly earnings data on Friday, September 30th. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.09. The firm had revenue of $1.09 billion for the quarter. McCormick & Co. had a return on equity of 27.26% and a net margin of 10.58%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. Analysts forecast that McCormick & Co. will post $3.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Tuesday, October 11th were given a $0.43 dividend. The ex-dividend date was Thursday, October 6th. This represents a $1.72 dividend on an annualized basis and a yield of 1.87%. McCormick & Co.’s payout ratio is 47.51%.

A number of equities research analysts have recently issued reports on MKC shares. Zacks Investment Research raised McCormick & Co. from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Monday. Sanford C. Bernstein lowered McCormick & Co. from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $113.00 to $104.00 in a research report on Friday, September 16th. They noted that the move was a valuation call. Deutsche Bank AG cut their target price on McCormick & Co. from $113.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, September 23rd. Jefferies Group cut their target price on McCormick & Co. from $100.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, October 12th. Finally, Credit Suisse Group AG raised McCormick & Co. from a “neutral” rating to an “outperform” rating and set a $111.00 target price on the stock in a research report on Tuesday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. McCormick & Co. currently has an average rating of “Hold” and a consensus target price of $100.11.

In other McCormick & Co. news, Director Freeman A. Hrabowski III sold 2,000 shares of the stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $94.15, for a total value of $188,300.00. Following the transaction, the director now directly owns 38,442 shares in the company, valued at approximately $3,619,314.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is owned by company insiders.

About McCormick & Co.

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

5 Day Chart for NYSE:MKC

Receive News & Stock Ratings for McCormick & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Co. and related stocks with our FREE daily email newsletter.