McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,400 shares of the company’s stock after purchasing an additional 839 shares during the period. Asset Management One Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $9,662,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its holdings in McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $39,000. Finally, Friedenthal Financial purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report 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 company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $76.34 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The stock has a market cap of $20.49 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.57 and a beta of 0.77. The firm’s fifty day simple moving average is $81.02 and its 200-day simple moving average is $76.19.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. Analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.20%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.