Northcape Wealth Management LLC Has $212,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

Northcape Wealth Management LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 49.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,571 shares of the company’s stock after selling 2,522 shares during the quarter. Northcape Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MKC. Janney Montgomery Scott LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $20,227,000. Cetera Investment Advisers increased its position in shares of McCormick & Company, Incorporated by 470.6% during the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares during the last quarter. Hemenway Trust Co LLC raised its stake in shares of McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares in the last quarter. Sei Investments Co. lifted its stake in McCormick & Company, Incorporated by 11.8% in the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after acquiring an additional 16,420 shares during the last quarter. Finally, Boston Trust Walden Corp increased its position in McCormick & Company, Incorporated by 1.1% during the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after buying an additional 6,588 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $73.97 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $19.85 billion, a PE ratio of 25.16, a PEG ratio of 3.46 and a beta of 0.77. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The business has a 50-day simple moving average of $80.30 and a two-hundred day simple moving average of $76.21.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.65 EPS. The firm’s revenue 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 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.