Jmac Enterprises LLC Boosts Position in McCormick & Company, Incorporated (NYSE:MKC)

Jmac Enterprises LLC increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 57.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,106 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Jmac Enterprises LLC’s holdings in McCormick & Company, Incorporated were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. raised its position in shares of McCormick & Company, Incorporated by 8.9% during the 3rd quarter. Principal Financial Group Inc. now owns 308,903 shares of the company’s stock valued at $25,423,000 after purchasing an additional 25,278 shares during the period. Radnor Capital Management LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $346,000. Crestwood Advisors Group LLC raised its position in shares of McCormick & Company, Incorporated by 1.3% during the third quarter. Crestwood Advisors Group LLC now owns 567,762 shares of the company’s stock valued at $46,728,000 after buying an additional 7,114 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in McCormick & Company, Incorporated by 129.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 4,903 shares of the company’s stock valued at $406,000 after acquiring an additional 2,762 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of McCormick & Company, Incorporated by 12.0% in the third quarter. QRG Capital Management Inc. now owns 13,121 shares of the company’s stock worth $1,080,000 after buying an additional 1,407 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 2.8 %

Shares of NYSE:MKC opened at $76.66 on Thursday. 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 stock has a market cap of $20.57 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.57 and a beta of 0.77. The business has a 50-day moving average price of $81.02 and a 200-day moving average price of $76.19.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for 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 quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. 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 note on Wednesday, October 2nd. Bank of America increased their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price objective 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. One equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $79.57.

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 stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 22.90% of the stock is owned by corporate insiders.

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.