Crossmark Global Holdings Inc. Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Crossmark Global Holdings Inc. decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,413 shares of the company’s stock after selling 503 shares during the period. Crossmark Global Holdings Inc.’s holdings in McCormick & Company, Incorporated were worth $1,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in McCormick & Company, Incorporated by 11.8% during the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after buying an additional 16,420 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 30.5% in the 1st quarter. QRG Capital Management Inc. now owns 10,782 shares of the company’s stock worth $828,000 after acquiring an additional 2,523 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of McCormick & Company, Incorporated by 12.5% during the 1st quarter. Russell Investments Group Ltd. now owns 105,523 shares of the company’s stock worth $8,093,000 after purchasing an additional 11,751 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in McCormick & Company, Incorporated by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after purchasing an additional 7,898 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in McCormick & Company, Incorporated by 12.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 389,871 shares of the company’s stock worth $29,946,000 after purchasing an additional 43,988 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were 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 in the company, valued at approximately $2,210,237.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.0 %

MKC opened at $75.84 on Thursday. 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 firm has a market cap of $20.35 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 3.50 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 stock has a fifty day moving average price of $80.76 and a 200-day moving average price of $76.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating 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 company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $0.65 earnings per share. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.22%. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report 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 research note on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their target price 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 research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated 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.