Amalgamated Bank Sells 1,543 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Amalgamated Bank reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,526 shares of the company’s stock after selling 1,543 shares during the quarter. Amalgamated Bank’s holdings in McCormick & Company, Incorporated were worth $4,076,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its position in shares of McCormick & Company, Incorporated by 129.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 4,903 shares of the company’s stock worth $406,000 after buying an additional 2,762 shares during the period. QRG Capital Management Inc. boosted its stake in McCormick & Company, Incorporated by 12.0% during the third quarter. QRG Capital Management Inc. now owns 13,121 shares of the company’s stock worth $1,080,000 after acquiring an additional 1,407 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in McCormick & Company, Incorporated by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 117,400 shares of the company’s stock worth $9,662,000 after purchasing an additional 839 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in McCormick & Company, Incorporated by 409.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 106,800 shares of the company’s stock valued at $8,790,000 after purchasing an additional 85,835 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of McCormick & Company, Incorporated by 7.2% during the third quarter. Van ECK Associates Corp now owns 6,964 shares of the company’s stock valued at $553,000 after purchasing an additional 465 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $77.46 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.79 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.50 and a beta of 0.77. The stock’s fifty day simple moving average is $80.92 and its two-hundred day simple moving average is $76.21. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share 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 analysts’ expectations of $1.67 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

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

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 15,000 shares of company stock valued at $1,179,150. 22.90% of the stock is owned by 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.