McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 34.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 489,931 shares of the company's stock after acquiring an additional 124,666 shares during the period. BNP Paribas Financial Markets owned 0.18% of McCormick & Company, Incorporated worth $40,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock valued at $69,256,000 after purchasing an additional 975,255 shares during the period. Marshall Wace LLP acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $51,286,000. Millennium Management LLC raised its holdings in McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company's stock valued at $52,041,000 after acquiring an additional 386,320 shares during the last quarter. Covea Finance purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $31,740,000. Finally, E. Ohman J or Asset Management AB lifted its stake in McCormick & Company, Incorporated by 3,499.8% during the third quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company's stock worth $27,552,000 after purchasing an additional 325,477 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the topic of a number of research analyst reports. BNP Paribas raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. Bank of America increased their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Finally, TD Cowen boosted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $79.57.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the sale, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 over the last ninety days. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded up $0.56 during trading on Friday, hitting $78.35. 839,283 shares of the stock were exchanged, compared to its average volume of 1,896,850. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The company has a fifty day moving average price of $79.10 and a 200-day moving average price of $76.30. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.77.

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

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.22%.

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.