Freedom Investment Management Inc. Has $224,000 Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Freedom Investment Management Inc. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,727 shares of the company’s stock after selling 146 shares during the quarter. Freedom Investment Management Inc.’s holdings in McCormick & Company, Incorporated were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKC. Capital Advisors Ltd. LLC raised its stake in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $28,000. OFI Invest Asset Management bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $39,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 20,000 shares of company stock worth $1,565,850. Corporate insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MKC. Stifel Nicolaus increased their target price on shares of 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 report on Wednesday, October 2nd. TD Cowen raised their price objective 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. Finally, Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $78.41 on Monday. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The business’s fifty day moving average is $79.01 and its 200 day moving average is $76.34. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $21.04 billion, a P/E ratio of 26.67, a P/E/G ratio of 3.58 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results 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. 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 for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $0.65 EPS. McCormick & Company, Incorporated’s quarterly 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 fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.30%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

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.