489 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by Kennebec Savings Bank

Kennebec Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 489 shares of the company’s stock, valued at approximately $40,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after acquiring an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of McCormick & Company, Incorporated by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after buying an additional 136,080 shares during the last quarter. Nuance Investments LLC lifted its position in shares of 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 buying 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% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after buying an additional 975,255 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of 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 buying an additional 386,320 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Stock Down 0.6 %

Shares of NYSE:MKC opened at $77.02 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49. The company has a 50 day moving average of $80.92 and a two-hundred day moving average of $76.22. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during 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 revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.18%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on 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 approximately $2,210,237.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 15,000 shares of company stock worth $1,179,150. Insiders own 22.90% of the company’s stock.

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.