Wellington Management Group LLP Purchases 24,881 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Wellington Management Group LLP grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 21.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 139,728 shares of the company's stock after buying an additional 24,881 shares during the period. Wellington Management Group LLP owned approximately 0.05% of McCormick & Company, Incorporated worth $11,500,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Wahed Invest LLC lifted its position in McCormick & Company, Incorporated by 12.7% in the third quarter. Wahed Invest LLC now owns 6,115 shares of the company's stock worth $503,000 after purchasing an additional 687 shares during the period. State Street Corp raised its stake in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of McCormick & Company, Incorporated by 27.1% during the 3rd quarter. Stifel Financial Corp now owns 330,642 shares of the company's stock worth $27,213,000 after acquiring an additional 70,508 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $1,923,000. Finally, Quantinno Capital Management LP increased its stake in McCormick & Company, Incorporated by 35.3% in the third quarter. Quantinno Capital Management LP now owns 51,051 shares of the company's stock valued at $4,202,000 after acquiring an additional 13,323 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus raised 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 note on Wednesday, October 2nd. TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Finally, Bank of America upped their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $81.00.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded down $0.39 during midday trading on Monday, reaching $80.17. The company's stock had a trading volume of 1,442,961 shares, compared to its average volume of 1,894,704. The business's fifty day simple moving average is $78.38 and its 200-day simple moving average is $76.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two week high of $85.49. The company has a market capitalization of $21.51 billion, a P/E ratio of 27.27, a P/E/G ratio of 3.48 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. McCormick & Company, Incorporated's payout ratio is currently 61.22%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 over the last ninety days. Insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated 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.