UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 177,567 Shares of McCormick & Company, Incorporated (NYSE:MKC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,003,136 shares of the company's stock after acquiring an additional 177,567 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.12% of McCormick & Company, Incorporated worth $247,158,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $20,227,000. Hemenway Trust Co LLC grew its position in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock valued at $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock valued at $3,298,000 after acquiring an additional 14,652 shares in the last quarter. Cetera Investment Advisers grew its position in shares of McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company's stock worth $2,916,000 after buying an additional 31,306 shares in the last quarter. Finally, Boston Trust Walden Corp grew its position in shares of McCormick & Company, Incorporated by 1.1% during the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company's stock worth $44,882,000 after buying an additional 6,588 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now owns 28,217 shares in the company, valued at $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MKC. TD Cowen upped their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.62 during mid-day trading on Friday, hitting $78.41. The company had a trading volume of 839,285 shares, compared to its average volume of 1,896,850. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.55 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The firm's 50 day simple moving average is $79.01 and its two-hundred day simple moving average is $76.32.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors 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 2.30%. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated's payout ratio is presently 61.22%.

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.