McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 84.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,800 shares of the company's stock after purchasing an additional 59,065 shares during the period. National Bank of Canada FI's holdings in McCormick & Company, Incorporated were worth $10,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 6.5% during the second quarter. Sequoia Financial Advisors LLC now owns 5,133 shares of the company's stock valued at $364,000 after purchasing an additional 315 shares in the last quarter. Diversified Trust Co grew its stake in McCormick & Company, Incorporated by 17.5% in the second quarter. Diversified Trust Co now owns 17,500 shares of the company's stock valued at $1,241,000 after purchasing an additional 2,608 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 buying an additional 6,860 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in shares of McCormick & Company, Incorporated by 90.4% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 8,186 shares of the company's stock valued at $576,000 after buying an additional 3,886 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its stake in shares of McCormick & Company, Incorporated by 2,916.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 3,016 shares of the company's stock worth $214,000 after acquiring an additional 2,916 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the business's stock in a transaction dated 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 owns 28,217 shares of the company's stock, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last 90 days. Insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded down $0.58 during trading on Wednesday, hitting $81.36. 1,506,944 shares of the stock traded hands, compared to its average volume of 1,900,292. The company has a fifty day moving average price of $78.37 and a two-hundred day moving average price of $76.60. McCormick & Company, Incorporated has a 52-week low of $63.88 and a 52-week high of $85.49. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 3.31 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.22%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday. TD Cowen lifted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Finally, Bank of America raised their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $81.00.

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.