Metis Global Partners LLC Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Metis Global Partners LLC boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,910 shares of the company’s stock after acquiring an additional 210 shares during the quarter. Metis Global Partners LLC’s holdings in McCormick & Company, Incorporated were worth $1,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. HCR Wealth Advisors increased its position in shares of McCormick & Company, Incorporated by 2.6% in the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after purchasing an additional 135 shares during the last quarter. Wallington Asset Management LLC grew its stake in McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after buying an additional 136 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after buying an additional 141 shares during the last quarter. KFG Wealth Management LLC raised its position in shares of McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after buying an additional 156 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 currently owned by company insiders.

Wall Street Analyst Weigh In

MKC has been the topic of a number of research analyst reports. Stifel Nicolaus increased their target price 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. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen raised their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Trading Down 1.3 %

Shares of MKC stock opened at $73.97 on Friday. The business has a 50-day moving average of $80.30 and a 200 day moving average of $76.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The stock has a market capitalization of $19.85 billion, a PE ratio of 25.16, a P/E/G ratio of 3.46 and a beta of 0.77.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

About McCormick & Company, Incorporated

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.