TrinityPoint Wealth LLC Raises Stake in McCormick & Company, Incorporated (NYSE:MKC)

TrinityPoint Wealth LLC lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 55.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,401 shares of the company’s stock after buying an additional 3,010 shares during the quarter. TrinityPoint Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Nuance Investments LLC increased its stake in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after buying an additional 975,255 shares during the period. Swiss National Bank lifted its holdings in shares of McCormick & Company, Incorporated by 0.3% during the 3rd quarter. Swiss National Bank now owns 747,900 shares of the company’s stock worth $61,552,000 after acquiring an additional 2,500 shares during the period. Millennium Management LLC lifted its holdings 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 acquiring an additional 386,320 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter worth approximately $51,286,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.9 %

NYSE:MKC opened at $74.62 on Tuesday. The business’s 50-day moving average is $80.13 and its two-hundred day moving average is $76.22. The firm has a market capitalization of $20.03 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 3.38 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. 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 (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. Research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.25%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at $3,174,226. This represents a 11.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

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