Caprock Group LLC Increases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Caprock Group LLC grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,402 shares of the company’s stock after buying an additional 381 shares during the period. Caprock Group LLC’s holdings in McCormick & Company, Incorporated were worth $1,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth $20,227,000. Hemenway Trust Co LLC boosted its stake in McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after buying an additional 14,652 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after acquiring an additional 31,306 shares during the period. Finally, Boston Trust Walden Corp increased its stake in McCormick & Company, Incorporated by 1.1% in the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after purchasing an additional 6,588 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 1.1 %

Shares of McCormick & Company, Incorporated stock opened at $77.95 on Friday. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The stock’s fifty day moving average is $79.74 and its 200-day moving average is $76.24. The firm has a market capitalization of $20.92 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.44 and a beta of 0.77. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. The business 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%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.45 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.31%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America boosted their price objective 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 McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $79.57.

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.