Citigroup Inc. Has $18 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Citigroup Inc. lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 218,686 shares of the company’s stock after selling 17,395 shares during the period. Citigroup Inc.’s holdings in McCormick & Company, Incorporated were worth $17,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $28,000. Capital Advisors Ltd. LLC increased its stake 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 bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. Kennebec Savings Bank purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $35,000. 79.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $77.77 on Thursday. The company has a 50-day moving average price of $79.21 and a two-hundred day moving average price of $76.29. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $20.87 billion, a PE ratio of 26.45, a P/E/G ratio of 3.53 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. McCormick & Company, Incorporated’s dividend payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price 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.