Exchange Traded Concepts LLC Has $1.84 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Exchange Traded Concepts LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 102.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,129 shares of the company's stock after purchasing an additional 12,229 shares during the period. Exchange Traded Concepts LLC's holdings in McCormick & Company, Incorporated were worth $1,840,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MKC. State Street Corp increased its stake in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the period. Point72 Asset Management L.P. grew its holdings in McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock worth $127,115,000 after buying an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. increased its position in McCormick & Company, Incorporated by 2,778.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock valued at $37,606,000 after acquiring an additional 441,048 shares during the period. Millennium Management LLC raised its stake 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 acquiring an additional 386,320 shares in the last quarter. Finally, Covea Finance acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth $31,740,000. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction 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 completion of the sale, the director now owns 40,436 shares of the company's stock, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Up 2.8 %

NYSE:MKC traded up $2.11 during trading hours on Monday, hitting $77.00. 4,330,459 shares of the stock traded hands, compared to its average volume of 2,288,835. The firm has a 50 day moving average price of $76.66 and a 200 day moving average price of $78.10. The firm has a market cap of $20.66 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.23 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $64.33 and a fifty-two week high of $85.49. 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 (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.22%.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of research analyst reports. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday. Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Finally, Bank of America upped their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.75.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.