83,928 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, Holdings Channel reports. The firm purchased 83,928 shares of the company’s stock, valued at approximately $6,907,000.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted 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 valued at $69,256,000 after buying an additional 975,255 shares in the last quarter. Marshall Wace LLP acquired a new position in McCormick & Company, Incorporated during the second quarter worth $51,286,000. Millennium Management LLC raised 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 worth $52,041,000 after acquiring an additional 386,320 shares during the period. Covea Finance purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $31,740,000. Finally, E. Ohman J or Asset Management AB grew its position in shares of McCormick & Company, Incorporated by 3,499.8% in the third 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 during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of the company’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 value of $392,500.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last 90 days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $78.35 on Friday. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The firm has a market capitalization of $21.03 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.77. The business has a 50 day simple moving average of $79.01 and a 200-day simple moving average of $76.32.

McCormick & Company, Incorporated (NYSE:MKC) last issued its 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. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the business earned $0.65 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.30%. This is a positive change 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%.

Analyst Ratings Changes

Several research firms recently weighed in on MKC. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen increased their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Bank of America raised their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $79.57.

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.