Point72 Asset Management L.P. Has $127.12 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Point72 Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 58.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,544,531 shares of the company’s stock after acquiring an additional 568,276 shares during the period. Point72 Asset Management L.P. owned about 0.58% of McCormick & Company, Incorporated worth $127,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after buying an additional 31,306 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 2.4% in the first quarter. Cetera Advisors LLC now owns 14,660 shares of the company’s stock worth $1,126,000 after purchasing an additional 343 shares in the last quarter. Cardinal Capital Management boosted its holdings in McCormick & Company, Incorporated by 1.5% during the second quarter. Cardinal Capital Management now owns 90,684 shares of the company’s stock worth $6,433,000 after purchasing an additional 1,315 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in McCormick & Company, Incorporated by 8.6% during the second quarter. QRG Capital Management Inc. now owns 11,714 shares of the company’s stock worth $831,000 after purchasing an additional 932 shares during the last quarter. Finally, Czech National Bank grew its position in McCormick & Company, Incorporated by 8.4% in the second quarter. Czech National Bank now owns 47,972 shares of the company’s stock valued at $3,403,000 after purchasing an additional 3,731 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the sale, 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 through the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last ninety days. 22.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MKC shares. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a 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 note 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 research note on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their target price 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 investment 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 data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Trading Down 0.5 %

Shares of McCormick & Company, Incorporated stock opened at $78.00 on Wednesday. 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 business has a fifty day simple moving average of $78.80 and a two-hundred day simple moving average of $76.40. McCormick & Company, Incorporated has a 1 year low of $63.88 and a 1 year high of $85.49. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 3.35 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Research analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

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.