McCormick & Company, Incorporated (NYSE:MKC) Position Boosted by Swiss National Bank

Swiss National Bank boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 747,900 shares of the company’s stock after acquiring an additional 2,500 shares during the quarter. Swiss National Bank owned 0.28% of McCormick & Company, Incorporated worth $61,552,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its position in shares of 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 in the last quarter. Marshall Wace LLP acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $51,286,000. Millennium Management LLC raised its holdings in McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after purchasing an additional 386,320 shares in the last quarter. Covea Finance acquired a new stake in McCormick & Company, Incorporated in the third quarter worth approximately $31,740,000. Finally, E. Ohman J or Asset Management AB boosted its stake in McCormick & Company, Incorporated by 3,499.8% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock valued at $27,552,000 after purchasing an additional 325,477 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $75.31 on Wednesday. The stock’s 50-day moving average price is $79.96 and its two-hundred day moving average price is $76.22. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $20.21 billion, a PE ratio of 25.62, a PEG ratio of 3.38 and a beta of 0.77. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 11.87% and a return on equity of 15.30%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on MKC shares. Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen upped their price target 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their target price 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. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price of $79.57.

Insider Activity

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm’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 completion of the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by corporate 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.