SG Americas Securities LLC Sells 138,959 Shares of McCormick & Company, Incorporated (NYSE:MKC)

SG Americas Securities LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 88.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,296 shares of the company’s stock after selling 138,959 shares during the quarter. SG Americas Securities LLC’s holdings in McCormick & Company, Incorporated were worth $1,865,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Zions Bancorporation raised its holdings in McCormick & Company, Incorporated by 5,071.4% during the 3rd quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock worth $111,000 after buying an additional 1,065 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in McCormick & Company, Incorporated by 136.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock worth $154,000 after buying an additional 866 shares during the period. Dupont Capital Management Corp acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $173,000. YorkBridge Wealth Partners LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $174,000. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $200,000. Hedge funds and other institutional investors own 76.16% of the company’s stock.

In other news, VP Michael R. Smith sold 2,575 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total transaction of $277,997.00. Following the completion of the transaction, the vice president now directly owns 17,312 shares in the company, valued at $1,869,003.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patricia A. Little sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $108.63, for a total value of $678,937.50. Following the transaction, the director now owns 15,497 shares of the company’s stock, valued at $1,683,439.11. The disclosure for this sale can be found here. 15.30% of the stock is owned by corporate insiders.

Several analysts have issued reports on the company. Zacks Investment Research upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday. Jefferies Group restated a “buy” rating and set a $120.00 price objective on shares of McCormick & Company, Incorporated in a report on Thursday, January 25th. Credit Suisse Group set a $115.00 target price on McCormick & Company, Incorporated and gave the company a “buy” rating in a research note on Tuesday, December 12th. UBS Group lifted their target price on McCormick & Company, Incorporated from $100.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $107.67.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded up $0.54 during midday trading on Thursday, hitting $104.30. The company had a trading volume of 249,272 shares, compared to its average volume of 1,141,091. The company has a market cap of $13,465.79, a PE ratio of 27.95, a price-to-earnings-growth ratio of 2.25 and a beta of 0.61. McCormick & Company, Incorporated has a 1-year low of $90.25 and a 1-year high of $109.67. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.73.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 25th. The company reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.02. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. McCormick & Company, Incorporated had a return on equity of 27.74% and a net margin of 11.09%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. analysts predict that McCormick & Company, Incorporated will post 4.88 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, December 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.99%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s dividend payout ratio is presently 56.22%.

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McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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