Charles Schwab Investment Management Inc. Purchases 30,696 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Charles Schwab Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,463,052 shares of the company's stock after acquiring an additional 30,696 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.55% of McCormick & Company, Incorporated worth $120,409,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MKC. B. Riley Wealth Advisors Inc. lifted its holdings 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 valued at $349,000 after purchasing an additional 419 shares in the last quarter. California State Teachers Retirement System lifted its stake in McCormick & Company, Incorporated by 1.1% in the 1st quarter. California State Teachers Retirement System now owns 410,913 shares of the company's stock worth $31,562,000 after acquiring an additional 4,397 shares in the last quarter. Tidal Investments LLC boosted its position 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. Plato Investment Management Ltd grew its stake in McCormick & Company, Incorporated by 1,426.3% during the 1st 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 acquired a new position in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $16,386,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 28,217 shares of the company's stock, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. Company insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of NYSE:MKC traded up $0.52 on Tuesday, reaching $77.80. The company had a trading volume of 1,239,370 shares, compared to its average volume of 1,904,701. The stock has a market capitalization of $20.88 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.54 and a beta of 0.77. The stock has a 50-day moving average price of $79.33 and a 200 day moving average price of $76.28. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results 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. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. On average, equities analysts expect 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. Stockholders of record on Monday, December 30th will be given a $0.45 dividend. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.22%.

Wall Street Analyst Weigh In

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

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.