Dynamic Technology Lab Private Ltd Purchases New Position in McCormick & Company, Incorporated (NYSE:MKC)

Dynamic Technology Lab Private Ltd purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,823 shares of the company's stock, valued at approximately $2,866,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MKC. B. Riley Wealth Advisors Inc. increased its stake in shares of McCormick & Company, Incorporated by 10.0% in the first 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 in the last quarter. California State Teachers Retirement System grew its stake in McCormick & Company, Incorporated by 1.1% during the first quarter. California State Teachers Retirement System now owns 410,913 shares of the company's stock valued at $31,562,000 after acquiring an additional 4,397 shares in the last quarter. Tidal Investments LLC grew its stake in McCormick & Company, Incorporated by 32.3% during the first quarter. Tidal Investments LLC now owns 18,922 shares of the company's stock valued at $1,448,000 after acquiring an additional 4,619 shares in the last quarter. Plato Investment Management Ltd grew its stake in McCormick & Company, Incorporated by 1,426.3% during the first quarter. Plato Investment Management Ltd now owns 3,419 shares of the company's stock valued at $263,000 after acquiring an additional 3,195 shares in the last quarter. Finally, Swedbank AB purchased a new position in McCormick & Company, Incorporated during the first quarter valued at $16,386,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of McCormick & Company, Incorporated stock traded up $0.19 on Monday, reaching $77.77. 505,958 shares of the company were exchanged, compared to its average volume of 1,899,153. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The company has a market cap of $20.87 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock's 50 day moving average price is $79.62 and its 200-day moving average price is $76.26.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $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 analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is 61.22%.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of recent research reports. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Finally, TD Cowen boosted their target price 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $79.57.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares of the company's stock, valued at $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last three months. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Company 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.