McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by KBC Group NV

KBC Group NV grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 29.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,852 shares of the company’s stock after purchasing an additional 8,638 shares during the quarter. KBC Group NV’s holdings in McCormick & Company, Incorporated were worth $3,115,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in McCormick & Company, Incorporated by 12.5% during the 1st quarter. Russell Investments Group Ltd. now owns 105,523 shares of the company’s stock worth $8,093,000 after buying an additional 11,751 shares during the last quarter. Vanguard Group Inc. lifted its stake in McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. TIAA Trust National Association boosted its holdings in McCormick & Company, Incorporated by 8.2% in the first quarter. TIAA Trust National Association now owns 11,458 shares of the company’s stock valued at $880,000 after purchasing an additional 873 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in McCormick & Company, Incorporated by 489.9% in the first quarter. UniSuper Management Pty Ltd now owns 16,458 shares of the company’s stock valued at $1,264,000 after purchasing an additional 13,668 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth approximately $505,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 over the last three months. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Down 1.3 %

NYSE MKC opened at $73.97 on Monday. The firm’s fifty day moving average is $80.30 and its two-hundred day moving average is $76.22. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm has a market cap of $19.85 billion, a PE ratio of 25.16, a P/E/G ratio of 3.38 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.30% and a net margin of 11.87%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. Analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

MKC has been the subject of several research analyst reports. 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 report on Wednesday, October 2nd. TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised 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 issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.57.

About McCormick & Company, Incorporated

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.