Holocene Advisors LP Purchases 150,938 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Holocene Advisors LP increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 475.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,698 shares of the company's stock after buying an additional 150,938 shares during the quarter. Holocene Advisors LP owned about 0.07% of McCormick & Company, Incorporated worth $15,036,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the third quarter worth $28,000. Capital Advisors Ltd. LLC lifted its stake in McCormick & Company, Incorporated by 87.5% during the second 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 last quarter. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated during the second quarter worth $29,000. Kennebec Savings Bank bought a new stake in McCormick & Company, Incorporated during the third quarter worth $40,000. Finally, 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the second quarter worth $35,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last three months. Company insiders own 22.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. TD Cowen increased their price target 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. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. Finally, Bank of America increased their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $79.57.

McCormick & Company, Incorporated Trading Down 0.6 %

McCormick & Company, Incorporated stock traded down $0.48 during trading hours on Wednesday, reaching $77.51. 2,222,506 shares of the company's stock were exchanged, compared to its average volume of 1,895,508. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm's 50 day simple moving average is $78.68 and its 200 day simple moving average is $76.41. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49. The firm has a market capitalization of $20.80 billion, a PE ratio of 26.36, a PEG ratio of 3.35 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business posted $0.65 EPS. The business's revenue was down .3% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company 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 $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 57.14%.

About McCormick & Company, Incorporated

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.