McCormick & Company, Incorporated (NYSE:MKC) Stock Holdings Lifted by Czech National Bank

Czech National Bank raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 51,338 shares of the company’s stock after acquiring an additional 3,366 shares during the period. Czech National Bank’s holdings in McCormick & Company, Incorporated were worth $4,225,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MKC. Vanguard Group Inc. raised its stake in McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Champlain Investment Partners LLC raised its stake in McCormick & Company, Incorporated by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after purchasing an additional 136,080 shares during the period. ProShare Advisors LLC raised its stake in McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after purchasing an additional 60,512 shares during the period. Nuance Investments LLC raised its stake in McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after purchasing an additional 99,741 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after purchasing an additional 975,255 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.5 %

NYSE MKC opened at $80.18 on Friday. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. 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 $21.54 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. The firm’s fifty day simple moving average is $80.63 and its 200-day simple moving average is $75.61.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 22.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on MKC. TD Cowen boosted their target price 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 target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note 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. Finally, Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.57.

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.