Rhumbline Advisers Sells 14,455 Shares of McCormick & Company, Incorporated (MKC)

Rhumbline Advisers trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,807 shares of the company’s stock after selling 14,455 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of McCormick & Company, worth $26,153,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of McCormick & Company, by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock valued at $1,195,875,000 after purchasing an additional 301,377 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in McCormick & Company, by 19.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,067,062 shares of the company’s stock worth $104,049,000 after acquiring an additional 177,210 shares in the last quarter. Renaissance Technologies LLC increased its holdings in McCormick & Company, by 26.6% in the 2nd quarter. Renaissance Technologies LLC now owns 987,100 shares of the company’s stock worth $96,252,000 after acquiring an additional 207,600 shares in the last quarter. Swiss National Bank increased its holdings in McCormick & Company, by 0.6% in the 3rd quarter. Swiss National Bank now owns 918,848 shares of the company’s stock worth $94,311,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Pioneer Investment Management Inc. increased its holdings in McCormick & Company, by 3.5% in the 2nd quarter. Pioneer Investment Management Inc. now owns 895,695 shares of the company’s stock worth $87,339,000 after acquiring an additional 29,910 shares in the last quarter. 69.38% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated (NYSE:MKC) opened at $99.33 on Friday. McCormick & Company, Incorporated has a 1 year low of $88.64 and a 1 year high of $106.50. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.95 and a quick ratio of 0.47. The company has a market cap of $13,011.93, a PE ratio of 25.02, a price-to-earnings-growth ratio of 2.51 and a beta of 0.53.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were given a dividend of $0.47 per share. The ex-dividend date was Friday, October 6th. This represents a $1.88 annualized dividend and a dividend yield of 1.89%. McCormick & Company,’s dividend payout ratio is presently 51.93%.

In related news, Director Maritza Gomez Montiel sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total transaction of $240,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Freeman A. Hrabowski III sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $98.68, for a total transaction of $296,040.00. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock worth $1,598,490 in the last three months. Corporate insiders own 15.30% of the company’s stock.

Several brokerages recently commented on MKC. Jefferies Group LLC set a $120.00 price target on shares of McCormick & Company, and gave the stock a “buy” rating in a report on Monday, October 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $103.00 target price (up previously from $95.00) on shares of McCormick & Company, in a report on Monday, October 2nd. Zacks Investment Research raised shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Monday, October 2nd. Citigroup Inc. upped their target price on shares of McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $115.00 target price (up previously from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $106.00.

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About McCormick & Company,

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.

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

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