McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 33.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,171 shares of the company’s stock after acquiring an additional 19,692 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in McCormick & Company, Incorporated were worth $6,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. Janney Montgomery Scott LLC acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $20,227,000. Hemenway Trust Co LLC increased its position in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after buying an additional 58,511 shares during the period. Oppenheimer & Co. Inc. lifted 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 valued at $3,298,000 after buying an additional 14,652 shares during the last quarter. Cetera Investment Advisers lifted 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 valued at $2,916,000 after buying an additional 31,306 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in shares of McCormick & Company, Incorporated by 1.1% in the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after acquiring an additional 6,588 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of the 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 owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

Shares of McCormick & Company, Incorporated stock opened at $77.58 on Monday. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49. The company’s 50-day simple moving average is $79.62 and its 200-day simple moving average is $76.26. 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 (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) 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 analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MKC. TD Cowen lifted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America boosted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.