Tocqueville Asset Management L.P. reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,700 shares of the company’s stock after selling 1,266 shares during the period. Tocqueville Asset Management L.P.’s holdings in McCormick & Company, were worth $2,740,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MKC. BlueMountain Capital Management LLC increased its stake in McCormick & Company, by 1,600.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after purchasing an additional 1,616 shares during the period. IFP Advisors Inc increased its stake in McCormick & Company, by 28.4% in the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after purchasing an additional 395 shares during the period. YorkBridge Wealth Partners LLC purchased a new position in McCormick & Company, in the 3rd quarter worth approximately $174,000. Commonwealth Bank of Australia increased its stake in McCormick & Company, by 4.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,046 shares of the company’s stock worth $198,000 after purchasing an additional 80 shares during the period. Finally, First Allied Advisory Services Inc. increased its stake in McCormick & Company, by 2.8% in the 2nd quarter. First Allied Advisory Services Inc. now owns 2,114 shares of the company’s stock worth $206,000 after purchasing an additional 58 shares during the period. 70.14% of the stock is currently owned by institutional investors and hedge funds.

In other McCormick & Company, news, Director Freeman A. Hrabowski III sold 3,000 shares of the business’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $99.50, for a total value of $497,500.00. Following the completion of the sale, the director now directly owns 18,825 shares in the company, valued at $1,873,087.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,500 shares of company stock worth $1,357,840. 15.30% of the stock is owned by insiders.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at $93.96 on Tuesday. The firm has a market capitalization of $12,693.61, a price-to-earnings ratio of 24.41, a P/E/G ratio of 2.45 and a beta of 0.53. McCormick & Company, Incorporated has a 12 month low of $88.64 and a 12 month high of $106.50. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings results on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.07. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. analysts predict that McCormick & Company, Incorporated will post 4.22 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.88 annualized dividend and a yield of 2.00%. McCormick & Company,’s payout ratio is 51.93%.

MKC has been the topic of several research analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $95.00 target price on shares of McCormick & Company, in a research note on Thursday, July 27th. Zacks Investment Research cut McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub raised McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Credit Suisse Group boosted their target price on McCormick & Company, from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Monday, September 18th. Finally, Citigroup Inc. boosted their target price on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $106.00.

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McCormick & 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.

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

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