Radnor Capital Management LLC Acquires Shares of 4,200 McCormick & Company, Incorporated (NYSE:MKC)

Radnor Capital Management LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, Holdings Channel reports. The institutional investor bought 4,200 shares of the company’s stock, valued at approximately $346,000.

Several other hedge funds have also recently modified their holdings of MKC. Point72 Asset Management L.P. lifted its position in shares of McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Vanguard Group Inc. lifted its holdings in McCormick & Company, Incorporated by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares in the last quarter. Marshall Wace LLP acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth $51,286,000. Millennium Management LLC boosted its stake in McCormick & Company, Incorporated by 111.2% during the 2nd 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 during the last quarter. Finally, Covea Finance purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $31,740,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling 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 transaction of $392,500.00. Following the completion of the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MKC. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America raised their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Down 0.4 %

Shares of NYSE MKC opened at $76.34 on Friday. The company has a 50 day simple moving average of $81.02 and a 200-day simple moving average of $76.19. The company has a market capitalization of $20.49 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.57 and a beta of 0.77. 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.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 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.