Qsemble Capital Management LP Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Qsemble Capital Management LP acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,410 shares of the company's stock, valued at approximately $1,104,000.

Several other institutional investors have also recently added to or reduced their stakes in MKC. Capital Advisors Ltd. LLC boosted its holdings in shares of 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. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated during the third quarter worth about $28,000. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter worth about $29,000. 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MKC. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Bank of America upped their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted 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. Finally, TD Cowen upped their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus target price of $79.57.

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 value of $386,700.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 0.1 %

Shares of MKC traded down $0.04 during midday trading on Wednesday, reaching $77.77. 1,156,661 shares of the company were exchanged, compared to its average volume of 1,901,448. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The stock has a 50-day moving average price of $79.21 and a 200-day moving average price of $76.29. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 3.53 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released 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 analysts' expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.65 EPS. McCormick & Company, Incorporated's quarterly revenue was down .3% compared to the same quarter last year. Research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm 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 dividend of $0.45 per share. 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 2.31%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 57.14%.

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.