nVerses Capital LLC Invests $996,000 in McCormick & Company, Incorporated (NYSE:MKC)

nVerses Capital LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,100 shares of the company's stock, valued at approximately $996,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Point72 Asset Management L.P. grew its position in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock worth $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Nuance Investments LLC purchased a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $73,160,000. Vanguard Group Inc. increased its position in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company's stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Marshall Wace LLP purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $51,286,000. Finally, Millennium Management LLC raised its holdings in McCormick & Company, Incorporated by 111.2% during the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company's stock valued at $52,041,000 after buying an additional 386,320 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 research report on Wednesday, October 2nd. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. TD Cowen boosted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $79.57.

McCormick & Company, Incorporated Stock Down 1.3 %

Shares of MKC stock traded down $1.09 on Thursday, hitting $80.02. The stock had a trading volume of 1,543,896 shares, compared to its average volume of 1,929,425. McCormick & Company, Incorporated has a one year low of $59.45 and a one year high of $85.49. The business has a 50 day moving average price of $80.92 and a 200 day moving average price of $75.77. The company has a market cap of $21.50 billion, a PE ratio of 29.60, a P/E/G ratio of 3.66 and a beta of 0.77. 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 issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. The company 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%. McCormick & Company, Incorporated's revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.31%.

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.