Qsemble Capital Management LP Takes $1.10 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Qsemble Capital Management LP purchased a new position in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, HoldingsChannel reports. The firm purchased 13,410 shares of the company’s stock, valued at approximately $1,104,000.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth approximately $20,227,000. Hemenway Trust Co LLC lifted its position in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after acquiring an additional 14,652 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after purchasing an additional 6,588 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKC has been the topic of a number of research analyst reports. Bank of America upped their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. TD Cowen upped their target price 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus increased 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. One equities research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.57.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $77.80 on Wednesday. The company has a 50-day moving average price of $79.33 and a 200-day moving average price of $76.28. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49. 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 firm has a market capitalization of $20.88 billion, a P/E ratio of 26.46, a PEG ratio of 3.53 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share. Equities 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 announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. 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%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

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.