Point72 Hong Kong Ltd Purchases Shares of 170,037 McCormick & Company, Incorporated (NYSE:MKC)

Point72 Hong Kong Ltd purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 170,037 shares of the company's stock, valued at approximately $13,994,000. McCormick & Company, Incorporated accounts for 1.0% of Point72 Hong Kong Ltd's investment portfolio, making the stock its 28th largest holding. Point72 Hong Kong Ltd owned 0.06% of McCormick & Company, Incorporated as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of MKC. B. Riley Wealth Advisors Inc. raised its holdings in McCormick & Company, Incorporated by 10.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,616 shares of the company's stock worth $349,000 after purchasing an additional 419 shares during the last quarter. Tidal Investments LLC grew its holdings in McCormick & Company, Incorporated by 32.3% during the 1st quarter. Tidal Investments LLC now owns 18,922 shares of the company's stock worth $1,448,000 after acquiring an additional 4,619 shares during the period. Cetera Investment Advisers raised its position in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company's stock worth $2,916,000 after acquiring an additional 31,306 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 2.4% in the 1st quarter. Cetera Advisors LLC now owns 14,660 shares of the company's stock valued at $1,126,000 after purchasing an additional 343 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 827.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,735 shares of the company's stock valued at $132,000 after purchasing an additional 1,548 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America boosted 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. TD Cowen raised their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus target price of $79.57.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded up $0.62 during trading on Friday, hitting $78.41. 839,285 shares of the company's stock traded hands, compared to its average volume of 1,644,111. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.58 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The business has a 50 day moving average of $79.01 and a 200-day moving average of $76.33.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $0.65 earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 57.14%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now owns 28,217 shares of the company's stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Profile

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.