Parallel Advisors LLC Lowers Stake in McCormick & Company, Incorporated (MKC)

Parallel Advisors LLC decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 19.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,540 shares of the company’s stock after selling 629 shares during the period. Parallel Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $246,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Coldstream Capital Management Inc. bought a new position in McCormick & Company, Incorporated in the third quarter valued at $698,000. Colony Group LLC bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $1,350,000. Neuberger Berman Group LLC grew its position in shares of McCormick & Company, Incorporated by 12.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 24,070 shares of the company’s stock valued at $2,471,000 after acquiring an additional 2,572 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $495,000. Finally, Janney Montgomery Scott LLC grew its position in shares of McCormick & Company, Incorporated by 23.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 49,827 shares of the company’s stock valued at $5,114,000 after acquiring an additional 9,603 shares during the period. 76.25% of the stock is owned by institutional investors.

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 2,500 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total value of $240,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael R. Smith sold 5,500 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the completion of the sale, the vice president now owns 19,248 shares of the company’s stock, valued at approximately $1,974,844.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,000 shares of company stock valued at $1,598,490. 15.30% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated (NYSE:MKC) traded up $0.55 during midday trading on Wednesday, hitting $101.07. 975,700 shares of the stock were exchanged, compared to its average volume of 893,039. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86. The firm has a market cap of $13,167.82, a PE ratio of 25.32, a PEG ratio of 2.29 and a beta of 0.53. McCormick & Company, Incorporated has a one year low of $89.65 and a one year high of $106.50.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. McCormick & Company, Incorporated had a net margin of 10.05% and a return on equity of 26.09%. McCormick & Company, Incorporated’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. equities analysts anticipate that McCormick & Company, Incorporated will post 4.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 51.93%.

A number of research analysts have recently commented on MKC shares. Zacks Investment Research downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Credit Suisse Group lifted their price objective on shares of McCormick & Company, Incorporated from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Monday, September 18th. Jefferies Group set a $120.00 price objective on shares of McCormick & Company, Incorporated and gave the company a “buy” rating in a research report on Monday, October 30th. Citigroup lifted their price objective on shares of McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, October 2nd. Finally, BidaskClub raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $106.67.

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About McCormick & Company, Incorporated

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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