Robeco Institutional Asset Management B.V. Acquires 85,835 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Robeco Institutional Asset Management B.V. lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 409.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,800 shares of the company's stock after acquiring an additional 85,835 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in McCormick & Company, Incorporated were worth $8,790,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MKC. Van ECK Associates Corp boosted its holdings in shares of McCormick & Company, Incorporated by 7.2% during the third quarter. Van ECK Associates Corp now owns 6,964 shares of the company's stock worth $553,000 after acquiring an additional 465 shares during the period. Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $20,227,000. Optas LLC bought a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $211,000. Chicago Partners Investment Group LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $227,000. Finally, Lowe Brockenbrough & Co. Inc. increased its position in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 7,814 shares of the company's stock worth $643,000 after buying an additional 255 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 2.1 %

Shares of NYSE MKC traded up $1.64 during midday trading on Friday, reaching $77.98. The stock had a trading volume of 455,103 shares, compared to its average volume of 1,904,986. The company's 50 day moving average price is $81.02 and its 200 day moving average price is $76.19. 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 twelve month low of $63.67 and a twelve month high of $85.49. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 3.57 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business's quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.15%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 57.14%.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the completion of the sale, the director now owns 40,436 shares in the company, valued at $3,194,444. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 15,000 shares of company stock worth $1,179,150. Corporate insiders own 22.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MKC shares. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. 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. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Finally, TD Cowen increased their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated 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.