Nisa Investment Advisors LLC Sells 21,997 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Nisa Investment Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 39.3% in the third quarter, HoldingsChannel.com reports. The fund owned 33,992 shares of the company’s stock after selling 21,997 shares during the quarter. Nisa Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $2,798,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its holdings in McCormick & Company, Incorporated by 2.9% in 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 buying an additional 7,898 shares during the period. Cetera Investment Advisers lifted its stake in McCormick & Company, Incorporated by 470.6% during the first 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. SG Americas Securities LLC lifted its stake in McCormick & Company, Incorporated by 333.8% during the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock worth $5,452,000 after purchasing an additional 54,616 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of McCormick & Company, Incorporated by 11.8% in the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after purchasing an additional 16,420 shares in the last quarter. Finally, Boston Trust Walden Corp increased its stake in shares of McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after purchasing an additional 6,588 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MKC. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen raised their target price 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. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of NYSE MKC opened at $78.75 on Friday. The firm has a 50 day moving average price of $81.11 and a two-hundred day moving average price of $76.06. The stock has a market cap of $21.13 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 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.