D.A. Davidson & CO. Purchases 503 Shares of McCormick & Company, Incorporated (NYSE:MKC)

D.A. Davidson & CO. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,253 shares of the company’s stock after acquiring an additional 503 shares during the period. D.A. Davidson & CO.’s holdings in McCormick & Company, Incorporated were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after buying an additional 30,696 shares in the last quarter. Nuance Investments LLC raised its holdings in shares of McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after acquiring an additional 99,741 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of 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 valued at $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Swiss National Bank boosted its position in shares of McCormick & Company, Incorporated by 0.3% during the 3rd quarter. Swiss National Bank now owns 747,900 shares of the company’s stock valued at $61,552,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Millennium Management LLC grew 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 worth $52,041,000 after purchasing an additional 386,320 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MKC shares. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective 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. Bank of America upped their target price 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. Finally, TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. One investment 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 stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $78.41 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $21.04 billion, a PE ratio of 26.67, a PEG ratio of 3.58 and a beta of 0.77. The company’s fifty day moving average is $79.01 and its 200 day moving average is $76.34. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.30%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

Insider Activity

In related 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 sale, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by company insiders.

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.