Oppenheimer & Co. Inc. Purchases 14,652 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Oppenheimer & Co. Inc. increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 57.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,077 shares of the company's stock after acquiring an additional 14,652 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in McCormick & Company, Incorporated were worth $3,298,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. HCR Wealth Advisors raised its position in shares of McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company's stock worth $381,000 after acquiring an additional 135 shares in the last quarter. Wallington Asset Management LLC increased its holdings in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company's stock worth $340,000 after purchasing an additional 136 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in McCormick & Company, Incorporated by 2.9% in the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company's stock valued at $357,000 after buying an additional 141 shares during the period. KFG Wealth Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company's stock worth $740,000 after buying an additional 156 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock worth $27,000 after buying an additional 175 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 1.3 %

NYSE MKC traded down $0.95 during trading hours on Friday, hitting $73.97. The company's stock had a trading volume of 3,138,082 shares, compared to its average volume of 1,906,316. The company has a market capitalization of $19.85 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 3.46 and a beta of 0.77. 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 52 week low of $63.67 and a 52 week high of $85.49. The company's 50-day simple moving average is $80.30 and its two-hundred day simple moving average is $76.21.

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

McCormick & Company, Incorporated Dividend Announcement

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

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the company'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 value of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares of the company's stock, valued at $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last quarter. Insiders own 22.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MKC. Bank of America boosted 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. 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 report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research note 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's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus price target of $79.57.

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.