KBC Group NV Buys 8,638 Shares of McCormick & Company, Incorporated (NYSE:MKC)

KBC Group NV lifted its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 29.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,852 shares of the company's stock after purchasing an additional 8,638 shares during the quarter. KBC Group NV's holdings in McCormick & Company, Incorporated were worth $3,115,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MKC. Capital Advisors Ltd. LLC boosted its stake in 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 purchasing an additional 175 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $28,000. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated during the second quarter worth about $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $39,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. TD Cowen lifted their target price 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 raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded up $0.74 during midday trading on Monday, reaching $74.71. 1,092,574 shares of the company were exchanged, compared to its average volume of 1,902,667. The company has a market cap of $20.05 billion, a P/E ratio of 25.16, a PEG ratio of 3.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company's 50 day moving average price is $80.30 and its two-hundred day moving average price is $76.22.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results 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 net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the company posted $0.65 earnings per share. The firm's quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.25%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,565,850 over the last three months. Company insiders own 22.90% of the company's stock.

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.