Dynamic Technology Lab Private Ltd Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Dynamic Technology Lab Private Ltd bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, Holdings Channel.com reports. The fund bought 34,823 shares of the company’s stock, valued at approximately $2,866,000.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at about $20,227,000. Hemenway Trust Co LLC raised its stake in shares of McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares in the last quarter. Cetera Investment Advisers grew its stake in McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in McCormick & Company, Incorporated by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after purchasing an additional 6,588 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 in the last ninety days. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $77.58 on Monday. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm has a 50-day simple moving average of $79.62 and a two-hundred day simple moving average of $76.26.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.45 dividend. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Upgrades and Downgrades

MKC has been the subject of several research reports. Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Bank of America upped their price objective 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. TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised shares of 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 issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.57.

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.