CWA Asset Management Group LLC Acquires New Position in McCormick & Company, Incorporated (NYSE:MKC)

CWA Asset Management Group LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,808 shares of the company's stock, valued at approximately $2,289,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at $28,000. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $29,000. 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded up $1.15 during trading on Friday, reaching $77.49. The company's stock had a trading volume of 1,391,476 shares, compared to its average volume of 1,552,952. The business's fifty day moving average price is $80.92 and its 200-day moving average price is $76.22. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. 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 firm has a market cap of $20.80 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 3.50 and a beta of 0.77.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 4th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 15,000 shares of company stock worth $1,179,150 in the last three months. Insiders own 22.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on MKC shares. Stifel Nicolaus increased their price target 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. Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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.