Rockingstone Advisors LLC Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Rockingstone Advisors LLC grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,975 shares of the company’s stock after buying an additional 705 shares during the period. McCormick & Company, Incorporated accounts for 1.3% of Rockingstone Advisors LLC’s holdings, making the stock its 29th biggest position. Rockingstone Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after buying an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of McCormick & Company, Incorporated by 4.4% during the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after purchasing an additional 136,080 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 2.4% during the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after purchasing an additional 60,512 shares during the last quarter. Nuance Investments LLC raised its holdings in shares of McCormick & Company, Incorporated by 10.5% during the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.3 %

Shares of NYSE MKC opened at $79.63 on Wednesday. The company’s 50-day simple moving average is $80.49 and its 200-day simple moving average is $75.48. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $85.49. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. McCormick & Company, Incorporated’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on MKC. Bank of America raised their target price 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. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Stifel Nicolaus lifted 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. Finally, TD Cowen lifted 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $79.57.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 22.90% of the stock is currently owned by company insiders.

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.