McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Boston Family Office LLC

Boston Family Office LLC grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,869 shares of the company’s stock after purchasing an additional 2,261 shares during the quarter. McCormick & Company, Incorporated makes up approximately 1.1% of Boston Family Office LLC’s portfolio, making the stock its 28th largest holding. Boston Family Office LLC owned 0.07% of McCormick & Company, Incorporated worth $16,449,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MKC. Point72 Asset Management L.P. grew its position in shares of McCormick & Company, Incorporated by 97,525.5% in the second 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 last quarter. Marshall Wace LLP acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $51,286,000. Millennium Management LLC grew its position in shares of 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 purchasing an additional 386,320 shares during the last quarter. Covea Finance acquired a new stake in McCormick & Company, Incorporated during the third quarter worth approximately $31,740,000. Finally, E. Ohman J or Asset Management AB grew its stake in McCormick & Company, Incorporated by 3,499.8% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock worth $27,552,000 after acquiring an additional 325,477 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MKC has been the subject of several recent analyst reports. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. 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. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, TD Cowen lifted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $77.58 on Monday. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The firm has a market capitalization of $20.82 billion, a P/E ratio of 26.39, a P/E/G ratio of 3.54 and a beta of 0.77. The company’s fifty day moving average price is $79.62 and its two-hundred day moving average price is $76.26.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 57.14%.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the sale, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

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.