BNP Paribas Financial Markets Has $40.32 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

BNP Paribas Financial Markets boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 34.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 489,931 shares of the company’s stock after buying an additional 124,666 shares during the quarter. BNP Paribas Financial Markets’ holdings in McCormick & Company, Incorporated were worth $40,321,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MKC. Charles Schwab Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after acquiring an additional 30,696 shares during the last quarter. Nuance Investments LLC raised 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 purchasing an additional 99,741 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the period. Swiss National Bank boosted its stake in shares of McCormick & Company, Incorporated by 0.3% in the 3rd quarter. Swiss National Bank now owns 747,900 shares of the company’s stock valued at $61,552,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Millennium Management LLC boosted its position in McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $77.79 on Friday. The business’s fifty day moving average is $79.10 and its 200 day moving average is $76.30. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.88 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.53 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. The firm 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 business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. Sell-side 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 declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Analysts Set New Price Targets

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

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.