McCormick & Company, Incorporated (NYSE:MKC) Stake Boosted by Swiss National Bank

Swiss National Bank increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 747,900 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Swiss National Bank’s holdings in McCormick & Company, Incorporated were worth $61,552,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MKC. HCR Wealth Advisors raised its stake in shares of McCormick & Company, Incorporated by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after purchasing an additional 135 shares in the last quarter. Wallington Asset Management LLC raised its position in McCormick & Company, Incorporated by 3.4% during the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after acquiring an additional 136 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in McCormick & Company, Incorporated by 2.9% in the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after acquiring an additional 141 shares during the last quarter. KFG Wealth Management LLC grew its position in McCormick & Company, Incorporated by 1.5% in the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after acquiring an additional 156 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen lifted 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 note on Wednesday, October 2nd. Bank of America boosted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.57.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 over the last three months. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $75.31 on Wednesday. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a market cap of $20.21 billion, a P/E ratio of 25.62, a P/E/G ratio of 3.38 and a beta of 0.77. The business’s 50 day moving average is $79.96 and its two-hundred day moving average is $76.22. The company has a quick ratio of 0.32, a current ratio of 0.71 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 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company earned $0.65 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts expect that McCormick & Company, Incorporated will post 2.92 EPS 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 paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

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.