McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,019 shares of the company’s stock after purchasing an additional 1,300 shares during the period. Public Sector Pension Investment Board’s holdings in McCormick & Company, Incorporated were worth $907,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. HCR Wealth Advisors grew its holdings in McCormick & Company, Incorporated by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after acquiring an additional 135 shares in the last quarter. Wallington Asset Management LLC grew its holdings in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after acquiring an additional 136 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after acquiring an additional 141 shares in the last quarter. KFG Wealth Management LLC grew its holdings in McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after acquiring an additional 156 shares in the last quarter. Finally, Aurora Investment Counsel grew its holdings in McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after acquiring an additional 172 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MKC shares. 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 report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective 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. Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Trading Down 0.8 %

Shares of NYSE:MKC opened at $77.50 on Friday. The company has a market cap of $20.80 billion, a PE ratio of 26.36, a P/E/G ratio of 3.31 and a beta of 0.75. The company’s 50-day moving average price is $78.46 and its 200 day moving average price is $76.46. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two week high of $85.49. 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 issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is 61.22%.

McCormick & Company, Incorporated Company 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.