Geode Capital Management LLC Has $482.82 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Geode Capital Management LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,886,987 shares of the company's stock after buying an additional 54,018 shares during the period. Geode Capital Management LLC owned 2.19% of McCormick & Company, Incorporated worth $482,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MKC. Sequoia Financial Advisors LLC grew its holdings in McCormick & Company, Incorporated by 6.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,133 shares of the company's stock worth $364,000 after buying an additional 315 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of McCormick & Company, Incorporated by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 128,193 shares of the company's stock valued at $9,094,000 after purchasing an additional 6,860 shares during the period. Boston Trust Walden Corp raised its stake in shares of McCormick & Company, Incorporated by 1.1% during the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company's stock valued at $44,882,000 after purchasing an additional 6,588 shares in the last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the second quarter worth about $29,000. Finally, KFG Wealth Management LLC grew its position in McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company's stock valued at $740,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the company from $85.00 to $91.00 in a research note on Monday. Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Finally, TD Cowen raised their target price on 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 analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $81.00.

Insider Activity

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 transaction of $386,700.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last 90 days. Company insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Trading Down 1.0 %

Shares of MKC traded down $0.85 during midday trading on Friday, hitting $80.56. The stock had a trading volume of 1,431,792 shares, compared to its average volume of 1,896,260. The business has a 50-day simple moving average of $78.37 and a two-hundred day simple moving average of $76.67. The firm has a market cap of $21.62 billion, a P/E ratio of 27.69, a price-to-earnings-growth 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.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS 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. Shareholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's payout ratio is 57.14%.

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.