McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,277 shares of the company’s stock after buying an additional 472 shares during the period. Raymond James Trust N.A.’s holdings in McCormick & Company, Incorporated were worth $517,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MKC. B. Riley Wealth Advisors Inc. lifted its holdings in McCormick & Company, Incorporated by 10.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,616 shares of the company’s stock valued at $349,000 after purchasing an additional 419 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of McCormick & Company, Incorporated by 1.1% during the first quarter. California State Teachers Retirement System now owns 410,913 shares of the company’s stock valued at $31,562,000 after buying an additional 4,397 shares during the period. Tidal Investments LLC lifted its stake in shares of McCormick & Company, Incorporated by 32.3% during the first 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 during the period. Plato Investment Management Ltd boosted its position in McCormick & Company, Incorporated by 1,426.3% during the first quarter. Plato Investment Management Ltd now owns 3,419 shares of the company’s stock worth $263,000 after acquiring an additional 3,195 shares during the last quarter. Finally, Swedbank AB purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth approximately $16,386,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.7 %

MKC opened at $77.80 on Wednesday. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The firm has a 50 day moving average price of $79.33 and a 200 day moving average price of $76.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The company has a market cap of $20.88 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. Sell-side analysts expect 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. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.31%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction 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 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 over the last quarter. 22.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus raised 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. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $79.57.

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.