Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 187.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 296,419 shares of the company's stock after purchasing an additional 193,453 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.11% of McCormick & Company, Incorporated worth $24,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HCR Wealth Advisors increased its holdings in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company's stock worth $381,000 after acquiring an additional 135 shares in the last quarter. Wallington Asset Management LLC raised its position 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 worth $340,000 after buying an additional 136 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company's stock worth $357,000 after acquiring an additional 141 shares during the period. KFG Wealth Management LLC increased its position in McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company's stock worth $740,000 after purchasing an additional 156 shares in the last quarter. Finally, Aurora Investment Counsel increased its holdings in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company's stock worth $695,000 after buying an additional 172 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Up 0.8 %

Shares of MKC traded up $0.62 during mid-day trading on Friday, reaching $78.41. The company's stock 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 PE ratio of 26.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.77. The company's 50 day moving average is $79.01 and its 200 day moving average is $76.32. 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 12-month low of $63.67 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm 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%. McCormick & Company, Incorporated's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.30%. McCormick & Company, Incorporated's payout ratio is presently 61.22%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MKC. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus price target of $79.57.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the sale, the director now owns 40,436 shares of the company's stock, valued at $3,174,226. The trade was a 11.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is owned by corporate insiders.

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.