CIBC Asset Management Inc Raises Holdings in McCormick & Company, Incorporated (NYSE:MKC)

CIBC Asset Management Inc boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,738 shares of the company’s stock after purchasing an additional 2,794 shares during the period. CIBC Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $3,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after acquiring an additional 975,255 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth about $51,286,000. Millennium Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after purchasing an additional 386,320 shares during the last quarter. Covea Finance purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $31,740,000. Finally, E. Ohman J or Asset Management AB boosted its stake in McCormick & Company, Incorporated by 3,499.8% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock worth $27,552,000 after purchasing an additional 325,477 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Stock Up 0.9 %

Shares of NYSE:MKC opened at $74.62 on Tuesday. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 3.38 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a 50-day moving average price of $80.13 and a 200 day moving average price of $76.22. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results 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 during 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%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current 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. This represents a $1.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is owned by 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.