DAVENPORT & Co LLC Has $6.70 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

DAVENPORT & Co LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,870 shares of the company's stock after purchasing an additional 12,356 shares during the quarter. DAVENPORT & Co LLC's holdings in McCormick & Company, Incorporated were worth $6,699,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MKC. State Street Corp raised its stake in McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC raised its holdings in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock worth $482,823,000 after buying an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company's stock worth $247,158,000 after purchasing an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. raised its stake in McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after purchasing an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company's stock worth $120,409,000 after buying an additional 30,696 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $1.12 during midday trading on Friday, reaching $78.43. The stock had a trading volume of 1,310,724 shares, compared to its average volume of 2,021,980. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market capitalization of $21.03 billion, a P/E ratio of 26.77, a PEG ratio of 3.67 and a beta of 0.75. The firm's fifty day simple moving average is $76.69 and its 200-day simple moving average is $78.29.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a $0.45 dividend. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.43%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Moderate Buy" and an average target price of $83.75.

McCormick & Company, Incorporated 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.