Van ECK Associates Corp Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Van ECK Associates Corp increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,964 shares of the company’s stock after purchasing an additional 465 shares during the quarter. Van ECK Associates Corp’s holdings in McCormick & Company, Incorporated were worth $553,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in shares of McCormick & Company, Incorporated by 11.8% during the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after buying an additional 16,420 shares in the last quarter. Inspire Investing LLC bought a new stake in McCormick & Company, Incorporated during the first quarter worth about $443,000. QRG Capital Management Inc. grew its holdings in McCormick & Company, Incorporated by 30.5% in the first quarter. QRG Capital Management Inc. now owns 10,782 shares of the company’s stock worth $828,000 after purchasing an additional 2,523 shares during the period. Russell Investments Group Ltd. increased its stake in shares of McCormick & Company, Incorporated by 12.5% during the first quarter. Russell Investments Group Ltd. now owns 105,523 shares of the company’s stock valued at $8,093,000 after purchasing an additional 11,751 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after purchasing an additional 7,898 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Down 0.6 %

McCormick & Company, Incorporated stock opened at $76.59 on Wednesday. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The business’s fifty day moving average is $80.86 and its 200 day moving average is $76.23. The stock has a market capitalization of $20.55 billion, a PE ratio of 26.20, a price-to-earnings-growth 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 (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts predict 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. Shareholders of record on Monday, October 7th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Ratings Changes

MKC has been the topic of several recent research reports. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America upped their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.57.

Insider Activity

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 20,000 shares of company stock valued at $1,565,850 in the last ninety days. 22.90% of the stock is currently owned by company insiders.

About McCormick & Company, Incorporated

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.