Bank of Montreal Can Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Bank of Montreal Can lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,459 shares of the company’s stock after purchasing an additional 10,559 shares during the period. Bank of Montreal Can’s holdings in McCormick & Company, Incorporated were worth $30,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after purchasing an additional 30,696 shares during the period. Nuance Investments LLC lifted its holdings in McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after buying an additional 99,741 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in McCormick & Company, Incorporated by 97,525.5% during the 2nd 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 lifted its holdings in McCormick & Company, Incorporated by 0.3% during the 3rd quarter. Swiss National Bank now owns 747,900 shares of the company’s stock worth $61,552,000 after buying an additional 2,500 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in McCormick & Company, Incorporated by 111.2% during the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after buying an additional 386,320 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report 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. Finally, Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Stock Down 0.0 %

MKC opened at $77.79 on Friday. The business’s 50-day simple moving average is $79.10 and its 200-day simple moving average is $76.30. 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 one year low of $63.67 and a one year high of $85.49. The stock has a market capitalization of $20.88 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 3.53 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) 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 analysts’ expectations 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 previous year, the firm posted $0.65 EPS. Analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS 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. Investors of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now 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 document filed with the SEC, which is accessible through the SEC website. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last quarter. Company insiders own 22.90% of the company’s stock.

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.