McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,277 shares of the company’s stock after purchasing an additional 472 shares during the quarter. Raymond James Trust N.A.’s holdings in McCormick & Company, Incorporated were worth $517,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after purchasing an additional 30,696 shares during the last quarter. Aurora Investment Counsel raised its holdings in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after buying an additional 172 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of McCormick & Company, Incorporated by 33.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,171 shares of the company’s stock worth $6,433,000 after buying an additional 19,692 shares during the period. EagleClaw Capital Managment LLC grew its holdings in shares of McCormick & Company, Incorporated by 3.1% during the third quarter. EagleClaw Capital Managment LLC now owns 35,475 shares of the company’s stock worth $2,920,000 after buying an additional 1,050 shares during the last quarter. Finally, Bellwether Advisors LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $1,557,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MKC shares. TD Cowen increased their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report 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 research note on Wednesday, October 2nd. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-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, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $79.57.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $77.80 on Wednesday. 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 one year low of $63.67 and a one year high of $85.49. The firm has a market capitalization of $20.88 billion, a P/E ratio of 26.46, a PEG ratio of 3.54 and a beta of 0.77. The company’s fifty day moving average is $79.33 and its two-hundred day moving average is $76.28.

McCormick & Company, Incorporated (NYSE:MKC) last released 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. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. 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 firm earned $0.65 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a $0.45 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) 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.