EagleClaw Capital Managment LLC Has $2.92 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

EagleClaw Capital Managment LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,475 shares of the company’s stock after buying an additional 1,050 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in McCormick & Company, Incorporated were worth $2,920,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MKC. Nuance Investments LLC boosted its holdings in shares of McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after buying an additional 99,741 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after buying an additional 975,255 shares during the last quarter. Swiss National Bank raised its position in McCormick & Company, Incorporated by 0.3% during the third quarter. Swiss National Bank now owns 747,900 shares of the company’s stock worth $61,552,000 after acquiring an additional 2,500 shares in the last quarter. Millennium Management LLC lifted its stake in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at $51,286,000. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MKC has been the topic of several recent analyst reports. TD Cowen boosted 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 note on Wednesday, October 2nd. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Stock Performance

MKC traded up $0.06 on Wednesday, reaching $75.37. The company had a trading volume of 32,806 shares, compared to its average volume of 1,898,003. The stock has a market cap of $20.23 billion, a P/E ratio of 25.62, a P/E/G ratio of 3.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The company’s fifty day moving average is $79.96 and its 200 day moving average is $76.22.

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

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is 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.