Wilmington Savings Fund Society FSB lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,400 shares of the company's stock after buying an additional 8,671 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in McCormick & Company, Incorporated were worth $7,687,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. HCR Wealth Advisors boosted its position in McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company's stock valued at $381,000 after purchasing an additional 135 shares in the last quarter. Wallington Asset Management LLC boosted its position in McCormick & Company, Incorporated by 3.4% during the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company's stock valued at $340,000 after purchasing an additional 136 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company's stock valued at $357,000 after purchasing an additional 141 shares in the last quarter. KFG Wealth Management LLC boosted its position in McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company's stock valued at $740,000 after purchasing an additional 156 shares in the last quarter. Finally, Aurora Investment Counsel raised its stake in McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company's stock valued at $695,000 after buying an additional 172 shares during the last quarter. Institutional investors own 79.74% of the company's stock.
Analysts Set New Price Targets
MKC has been the subject of several research analyst reports. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $85.00 to $91.00 in a report on Monday. Finally, TD Cowen raised their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.00.
Read Our Latest Analysis on MKC
McCormick & Company, Incorporated Stock Performance
Shares of NYSE MKC traded down $0.95 during trading hours on Friday, reaching $80.46. The stock had a trading volume of 535,767 shares, compared to its average volume of 1,892,267. The firm has a market cap of $21.59 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 3.48 and a beta of 0.75. 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 fifty-two week low of $63.88 and a fifty-two week high of $85.49. The firm has a 50-day moving average of $78.37 and a 200-day moving average of $76.67.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business's revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.
McCormick & Company, Incorporated Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is 57.14%.
Insider Transactions at McCormick & Company, Incorporated
In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company's stock.
McCormick & Company, Incorporated Company Profile
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Free Report)
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.
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