Brooklyn Investment Group Invests $84,000 in McCormick & Company, Incorporated (NYSE:MKC)

Brooklyn Investment Group acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,023 shares of the company’s stock, valued at approximately $84,000.

Several other large investors also recently added to or reduced their stakes in MKC. Janney Montgomery Scott LLC purchased a new position in shares of McCormick & Company, Incorporated during the third quarter valued at $20,227,000. Hemenway Trust Co LLC raised its holdings in shares of 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 purchasing an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares during the period. Cetera Investment Advisers boosted its stake in shares of McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in McCormick & Company, Incorporated by 1.1% during the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after buying an additional 6,588 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $77.79 on Friday. The firm’s fifty day moving average is $79.10 and its two-hundred day moving average is $76.30. The firm has a market cap of $20.88 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 3.53 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49.

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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. Research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS 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. Stockholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.31%. This is a positive change 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 payout ratio is 57.14%.

Wall Street Analyst Weigh In

MKC has been the subject of a number of analyst reports. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen increased 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 report on Wednesday, October 2nd. Bank of America lifted 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 note on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.57.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,194,444. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last three months. Company insiders own 22.90% of the company’s stock.

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.