Main Street Financial Solutions LLC Has $572,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

Main Street Financial Solutions LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,950 shares of the company’s stock after selling 549 shares during the quarter. Main Street Financial Solutions LLC’s holdings in McCormick & Company, Incorporated were worth $572,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its holdings in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Capital Performance Advisors LLP bought a new position in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $28,000. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $39,000. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MKC has been the subject of several recent research reports. Bank of America increased 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. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen boosted their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.57.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $74.92 on Friday. 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 company has a market cap of $20.11 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 3.46 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The business’s 50 day simple moving average is $80.64 and its 200 day simple moving average is $76.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.24%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 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.