Toronto Dominion Bank Buys 10,605 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Toronto Dominion Bank boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,301 shares of the company's stock after purchasing an additional 10,605 shares during the quarter. Toronto Dominion Bank owned about 0.05% of McCormick & Company, Incorporated worth $11,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MKC. Coldstream Capital Management Inc. raised its stake in shares of McCormick & Company, Incorporated by 6.0% during the third quarter. Coldstream Capital Management Inc. now owns 9,264 shares of the company's stock worth $761,000 after buying an additional 528 shares during the last quarter. Geode Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock worth $482,823,000 after acquiring an additional 54,018 shares during the period. Vestcor Inc grew its holdings in McCormick & Company, Incorporated by 25.9% during the 3rd quarter. Vestcor Inc now owns 5,043 shares of the company's stock worth $415,000 after acquiring an additional 1,036 shares during the period. Geller Advisors LLC raised its position in shares of McCormick & Company, Incorporated by 7.4% during the 3rd quarter. Geller Advisors LLC now owns 3,384 shares of the company's stock valued at $279,000 after acquiring an additional 233 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of McCormick & Company, Incorporated by 23.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 118,523 shares of the company's stock valued at $9,754,000 after purchasing an additional 22,468 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 1.0 %

MKC stock traded down $0.85 during mid-day trading on Friday, hitting $80.56. 1,467,746 shares of the company were exchanged, compared to its average volume of 1,896,260. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The firm's 50 day simple moving average is $78.37 and its 200 day simple moving average is $76.76. The firm has a market cap of $21.62 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.48 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates 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 firm's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.23%. This is a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated's payout ratio is 57.14%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last three months. Company insiders own 22.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MKC. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their price target 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Finally, TD Cowen upped their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.