Community Bank & Trust Waco Texas Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Community Bank & Trust Waco Texas purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,600 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MKC. Point72 Asset Management L.P. raised its position in shares of McCormick & Company, Incorporated by 97,525.5% during the second 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. Vanguard Group Inc. raised its position in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the period. Marshall Wace LLP purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $51,286,000. Millennium Management LLC raised its position in McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after buying an additional 386,320 shares during the last quarter. Finally, Covea Finance purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $31,740,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.6 %

Shares of NYSE MKC opened at $76.59 on Wednesday. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49. The business has a 50-day simple moving average of $80.86 and a two-hundred day simple moving average of $76.23. 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 company has a market cap of $20.55 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.52 and a beta of 0.77.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders 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 dividend yield of 2.19%. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

MKC has been the subject of a number of analyst reports. Bank of America increased their price target 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. Stifel Nicolaus raised their target price 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. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen increased their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $79.57.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have 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 Company 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.