McCormick & Company, Incorporated (NYSE:MKC) Stock Holdings Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 612,357 shares of the company's stock after purchasing an additional 8,605 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of McCormick & Company, Incorporated worth $50,397,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MKC. Capital Advisors Ltd. LLC raised 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 period. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated in the third quarter valued at $28,000. OFI Invest Asset Management purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at about $29,000. 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the second quarter worth about $39,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MKC. TD Cowen boosted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. Bank of America raised their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a research 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $79.57.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the transaction, the director now owns 40,436 shares of the company's stock, valued at $3,194,444. This trade represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last quarter. Insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Stock Down 1.3 %

Shares of McCormick & Company, Incorporated stock traded down $0.95 during trading hours on Friday, hitting $73.97. 3,138,082 shares of the company's stock traded hands, compared to its average volume of 1,906,316. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The stock has a 50 day simple moving average of $80.30 and a 200-day simple moving average of $76.21. 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 company has a market cap of $19.85 billion, a PE ratio of 25.16, a PEG ratio of 3.46 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. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated's payout ratio 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.