Charles Schwab Investment Management Inc. Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Charles Schwab Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,463,052 shares of the company’s stock after buying an additional 30,696 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.55% of McCormick & Company, Incorporated worth $120,409,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Aurora Investment Counsel grew 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 purchasing an additional 172 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of McCormick & Company, Incorporated by 33.7% in the 3rd 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 last quarter. EagleClaw Capital Managment LLC raised its position in shares of McCormick & Company, Incorporated by 3.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 35,475 shares of the company’s stock valued at $2,920,000 after buying an additional 1,050 shares in the last quarter. Bellwether Advisors LLC bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $1,557,000. Finally, Advisors Asset Management Inc. grew its position in McCormick & Company, Incorporated by 103.1% in the third quarter. Advisors Asset Management Inc. now owns 22,138 shares of the company’s stock worth $1,822,000 after acquiring an additional 11,240 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

NYSE MKC opened at $77.23 on Tuesday. The stock has a market cap of $20.73 billion, a PE ratio of 26.27, a PEG ratio of 3.54 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’s 50-day moving average price is $79.47 and its 200-day moving average price is $76.27. 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 issued its earnings results on Tuesday, October 1st. The company reported $0.83 EPS 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 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 company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. This represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MKC shares. Stifel Nicolaus upped 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. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” 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 report on Wednesday, October 2nd. Finally, 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 report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given 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, the stock has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated 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.