Quantinno Capital Management LP boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 35.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,051 shares of the company's stock after purchasing an additional 13,323 shares during the period. Quantinno Capital Management LP's holdings in McCormick & Company, Incorporated were worth $4,202,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of MKC. HCR Wealth Advisors grew its holdings in shares of McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company's stock valued at $381,000 after buying an additional 135 shares during the last quarter. Wallington Asset Management LLC grew its stake in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company's stock valued at $340,000 after purchasing an additional 136 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 2.9% in the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company's stock valued at $357,000 after purchasing an additional 141 shares during the period. KFG Wealth Management LLC raised its stake in shares of McCormick & Company, Incorporated by 1.5% in the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company's stock worth $740,000 after purchasing an additional 156 shares during the last quarter. Finally, Aurora Investment Counsel lifted its holdings in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company's stock worth $695,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.
McCormick & Company, Incorporated Price Performance
Shares of McCormick & Company, Incorporated stock traded up $2.47 during trading hours on Monday, reaching $79.97. The stock had a trading volume of 2,709,958 shares, compared to its average volume of 1,892,354. The stock's 50 day moving average is $78.46 and its 200 day moving average is $76.48. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. 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 $21.46 billion, a PE ratio of 26.36, a PEG ratio of 3.31 and a beta of 0.75.
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 company 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 firm posted $0.65 EPS. McCormick & Company, Incorporated's quarterly revenue was down .3% compared to the same quarter last year. Equities analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.25%. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 57.14%.
Analyst Ratings Changes
MKC has been the topic of several research reports. TD Cowen increased their price target 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. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $91.00 in a report on Monday. Finally, Bank of America lifted their price objective 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $81.00.
Get Our Latest Analysis on MKC
Insider Buying and Selling
In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by corporate insiders.
About McCormick & Company, Incorporated
(
Free Report)
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.
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