Concurrent Investment Advisors LLC Has $403,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Concurrent Investment Advisors LLC lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 60.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,896 shares of the company’s stock after selling 7,559 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Capital Advisors Ltd. LLC raised its position in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $29,000. 1620 Investment Advisors Inc. acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $39,000. Finally, Friedenthal Financial acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MKC shares. 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 research report on Wednesday, October 2nd. Bank of America raised their price target on 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 McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price target 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. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In related 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 completion of the sale, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 15,000 shares of company stock worth $1,179,150. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $77.49 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The stock has a 50 day moving average of $80.92 and a 200-day moving average of $76.22. The company has a market capitalization of $20.80 billion, a P/E ratio of 26.36, a P/E/G ratio of 3.54 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $0.65 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current 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 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 dividend yield of 2.17%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

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.