Asset Management One Co. Ltd. Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Asset Management One Co. Ltd. lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,400 shares of the company’s stock after acquiring an additional 839 shares during the period. Asset Management One Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $9,662,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MKC. Capital Advisors Ltd. LLC raised its holdings in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $35,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Finally, Friedenthal Financial purchased a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $49,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $76.34 on Friday. The company has a market cap of $20.49 billion, a PE ratio of 25.97, a P/E/G ratio of 3.57 and a beta of 0.77. The company has a fifty day moving average price of $81.02 and a two-hundred day moving average price of $76.19. 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 has a 12 month low of $63.67 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during 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%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. Research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price objective 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. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.57.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated 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.