Bank of Hawaii Invests $220,000 in McCormick & Company, Incorporated (NYSE:MKC)

Bank of Hawaii acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,676 shares of the company’s stock, valued at approximately $220,000.

Several other large investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $20,227,000. Hemenway Trust Co LLC raised its stake in McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares in the last quarter. Cetera Investment Advisers lifted its position in McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after buying an additional 6,588 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated 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 $3,174,226. The trade was a 11.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of NYSE:MKC opened at $77.23 on Tuesday. The stock has a market capitalization of $20.73 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. The stock’s 50-day moving average price is $79.47 and its 200-day moving average price is $76.27. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. 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 presently 61.22%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MKC shares. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective 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, BNP Paribas raised 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 issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.57.

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.