Broderick Brian C Purchases 16,204 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Broderick Brian C increased its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 73.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,379 shares of the company's stock after purchasing an additional 16,204 shares during the quarter. Broderick Brian C's holdings in McCormick & Company, Incorporated were worth $3,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MKC. Vanguard Group Inc. grew its holdings in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company's stock valued at $2,390,261,000 after purchasing an additional 883,327 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of McCormick & Company, Incorporated by 4.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company's stock worth $246,646,000 after purchasing an additional 136,080 shares during the period. Nuance Investments LLC boosted its position in McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company's stock valued at $74,644,000 after acquiring an additional 99,741 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock valued at $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Finally, Millennium Management LLC increased its position in McCormick & Company, Incorporated by 111.2% during the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company's stock valued at $52,041,000 after buying an additional 386,320 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen increased their price target 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. Bank of America increased their price objective 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. Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the business'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 transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Stock Down 1.3 %

Shares of MKC traded down $0.95 during mid-day trading on Friday, reaching $73.97. 3,075,722 shares of the stock traded hands, compared to its average volume of 1,906,316. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $80.48 and a 200 day simple moving average of $76.23. The firm has a market cap of $19.85 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 3.46 and a beta of 0.77. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. McCormick & Company, Incorporated's quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated's payout ratio is 57.14%.

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.