Townsquare Capital LLC Has $6.38 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Townsquare Capital LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.6% in the third quarter, HoldingsChannel reports. The firm owned 77,516 shares of the company’s stock after acquiring an additional 5,467 shares during the period. Townsquare Capital LLC’s holdings in McCormick & Company, Incorporated were worth $6,380,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. raised its holdings in shares of McCormick & Company, Incorporated by 10.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,616 shares of the company’s stock valued at $349,000 after buying an additional 419 shares during the last quarter. Tidal Investments LLC raised its stake in shares of McCormick & Company, Incorporated by 32.3% in the first quarter. Tidal Investments LLC now owns 18,922 shares of the company’s stock worth $1,448,000 after acquiring an additional 4,619 shares during the last quarter. Swedbank AB acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth approximately $16,386,000. Atria Investments Inc grew its stake in shares of McCormick & Company, Incorporated by 20.3% during the first quarter. Atria Investments Inc now owns 46,161 shares of the company’s stock valued at $3,546,000 after purchasing an additional 7,786 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of McCormick & Company, Incorporated by 470.6% in 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. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MKC shares. TD Cowen lifted their target price on 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 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 report on Wednesday, October 2nd. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $77.79 on Friday. The stock’s fifty day simple moving average is $79.10 and its 200 day simple moving average is $76.30. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $20.88 billion, a PE ratio of 26.46, a PEG ratio of 3.53 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.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.65 earnings per share. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. On average, research analysts predict 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. Shareholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. 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%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction 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 directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, 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.

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.