Wellington Management Group LLP Purchases 24,881 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Wellington Management Group LLP boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 21.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,728 shares of the company’s stock after acquiring an additional 24,881 shares during the period. Wellington Management Group LLP owned approximately 0.05% of McCormick & Company, Incorporated worth $11,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hall Laurie J Trustee boosted its holdings in shares of McCormick & Company, Incorporated by 2,297.6% in the second quarter. Hall Laurie J Trustee now owns 29,970 shares of the company’s stock valued at $2,126,000 after buying an additional 28,720 shares during the period. Baker Chad R boosted its stake in McCormick & Company, Incorporated by 90.7% in the 2nd quarter. Baker Chad R now owns 10,715 shares of the company’s stock worth $760,000 after purchasing an additional 5,095 shares during the period. Atria Wealth Solutions Inc. increased its holdings in McCormick & Company, Incorporated by 9.0% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,292 shares of the company’s stock worth $1,156,000 after purchasing an additional 1,343 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $35,000. Finally, &PARTNERS acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $412,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 1.0 %

McCormick & Company, Incorporated stock opened at $80.56 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The company’s 50-day moving average is $78.37 and its 200-day moving average is $76.81. The firm has a market capitalization of $21.62 billion, a PE ratio of 27.40, a P/E/G ratio of 3.48 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share 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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.22%.

Analysts Set New Price Targets

MKC has been the subject of a number of research reports. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Bank of America increased 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. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $81.00.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 over the last ninety days. 22.90% of the stock is currently owned by company insiders.

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.