McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 165.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 754 shares of the company’s stock after acquiring an additional 470 shares during the period. Assetmark Inc.’s holdings in McCormick & Company, Incorporated were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its position in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.9 %

McCormick & Company, Incorporated stock opened at $74.62 on Tuesday. The stock’s 50 day moving average price is $80.13 and its 200 day moving average price is $76.22. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The company has a market cap of $20.03 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 3.38 and a beta of 0.77. 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 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 business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.25%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One 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 given a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Company 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.