Charles Schwab Investment Management Inc. Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Charles Schwab Investment Management Inc. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.1% in the third quarter, HoldingsChannel reports. The firm owned 1,463,052 shares of the company’s stock after buying an additional 30,696 shares during the period. Charles Schwab Investment Management Inc.’s holdings in McCormick & Company, Incorporated were worth $120,409,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MKC. B. Riley Wealth Advisors Inc. grew its holdings in McCormick & Company, Incorporated by 10.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,616 shares of the company’s stock worth $349,000 after purchasing an additional 419 shares during the last quarter. California State Teachers Retirement System grew its stake in McCormick & Company, Incorporated by 1.1% during the 1st quarter. California State Teachers Retirement System now owns 410,913 shares of the company’s stock worth $31,562,000 after buying an additional 4,397 shares during the last quarter. Tidal Investments LLC increased its position in McCormick & Company, Incorporated by 32.3% during the 1st quarter. Tidal Investments LLC now owns 18,922 shares of the company’s stock valued at $1,448,000 after buying an additional 4,619 shares in the last quarter. Plato Investment Management Ltd increased its position in McCormick & Company, Incorporated by 1,426.3% during the 1st quarter. Plato Investment Management Ltd now owns 3,419 shares of the company’s stock valued at $263,000 after buying an additional 3,195 shares in the last quarter. Finally, Swedbank AB purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at about $16,386,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

Shares of McCormick & Company, Incorporated stock opened at $77.23 on Tuesday. The stock has a market cap of $20.73 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. The firm has a fifty day moving average price of $79.47 and a 200 day moving average price of $76.27. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year 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 released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.65 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. Corporate insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MKC shares. TD Cowen upped their price objective 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America raised their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated 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.