McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,457 shares of the company’s stock after selling 435 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in McCormick & Company, Incorporated were worth $696,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of McCormick & Company, Incorporated by 13.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 121,333 shares of the company’s stock valued at $9,320,000 after purchasing an additional 14,641 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter worth $658,000. Compton Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth $203,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of McCormick & Company, Incorporated by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 656,686 shares of the company’s stock valued at $50,440,000 after acquiring an additional 3,584 shares in the last quarter. Finally, KFG Wealth Management LLC raised its stake in shares of McCormick & Company, Incorporated by 96.6% in the first quarter. KFG Wealth Management LLC now owns 10,278 shares of the company’s stock valued at $789,000 after acquiring an additional 5,049 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $77.86 on Friday. McCormick & Company, Incorporated has a 12 month low of $62.54 and a 12 month high of $85.49. The firm has a market capitalization of $20.89 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The company’s fifty day moving average price is $81.16 and its 200 day moving average price is $75.90.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.16%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MKC. Bank of America upped their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. TD Cowen upped their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” 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 note on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.57.

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.