Freedom Investment Management Inc. Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Freedom Investment Management Inc. lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,727 shares of the company’s stock after selling 146 shares during the quarter. Freedom Investment Management Inc.’s holdings in McCormick & Company, Incorporated were worth $224,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Townsquare Capital LLC increased its holdings in McCormick & Company, Incorporated by 7.6% in the 3rd quarter. Townsquare Capital LLC now owns 77,516 shares of the company’s stock worth $6,380,000 after acquiring an additional 5,467 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in McCormick & Company, Incorporated by 34.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 489,931 shares of the company’s stock worth $40,321,000 after acquiring an additional 124,666 shares during the last quarter. Brooklyn Investment Group purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth about $84,000. D.A. Davidson & CO. increased its holdings in McCormick & Company, Incorporated by 3.7% in the 3rd quarter. D.A. Davidson & CO. now owns 14,253 shares of the company’s stock worth $1,173,000 after acquiring an additional 503 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth about $1,104,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $78.41 on Monday. The company has a market cap of $21.04 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 3.58 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. The stock has a 50-day moving average price of $79.01 and a 200-day moving average price of $76.34. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate 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 company posted $0.65 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a $0.45 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. TD Cowen lifted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Company 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.