Mesirow Financial Investment Management Inc. Invests $204,000 in McCormick & Company, Incorporated (NYSE:MKC)

Mesirow Financial Investment Management Inc. bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,478 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also added to or reduced their stakes in MKC. Point72 Asset Management L.P. boosted 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 worth $69,256,000 after purchasing an additional 975,255 shares in the last quarter. Vanguard Group Inc. boosted its stake in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after buying an additional 883,327 shares in the last quarter. Marshall Wace LLP purchased a new stake in McCormick & Company, Incorporated in the second quarter worth approximately $51,286,000. Millennium Management LLC grew its position in McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares during the last quarter. Finally, Covea Finance purchased a new position in shares of McCormick & Company, Incorporated during the third quarter worth approximately $31,740,000. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MKC shares. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen boosted 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. Finally, Bank of America increased their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target 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 firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 20,000 shares of company stock worth $1,565,850 over the last 90 days. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.6 %

Shares of NYSE:MKC opened at $76.59 on Wednesday. The stock’s 50-day moving average is $80.86 and its 200 day moving average is $76.23. The company has a market cap of $20.55 billion, a PE ratio of 26.05, a P/E/G ratio of 3.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49.

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. 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 during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Monday, October 7th. 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.