Raymond James Financial Services Advisors Inc. Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Raymond James Financial Services Advisors Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 27.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 157,386 shares of the company’s stock after buying an additional 34,351 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $11,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Xponance Inc. raised its position in shares of McCormick & Company, Incorporated by 20.9% during the 3rd quarter. Xponance Inc. now owns 26,032 shares of the company’s stock worth $1,855,000 after acquiring an additional 4,497 shares in the last quarter. Main Street Financial Solutions LLC raised its position in shares of McCormick & Company, Incorporated by 9.3% during the 3rd quarter. Main Street Financial Solutions LLC now owns 5,342 shares of the company’s stock worth $381,000 after acquiring an additional 455 shares in the last quarter. State of Michigan Retirement System raised its position in shares of McCormick & Company, Incorporated by 0.3% during the 3rd quarter. State of Michigan Retirement System now owns 67,810 shares of the company’s stock worth $4,833,000 after acquiring an additional 200 shares in the last quarter. Trust Co. of Vermont raised its position in shares of McCormick & Company, Incorporated by 1.3% during the 3rd quarter. Trust Co. of Vermont now owns 92,383 shares of the company’s stock worth $6,584,000 after acquiring an additional 1,195 shares in the last quarter. Finally, Cardinal Capital Management raised its position in shares of McCormick & Company, Incorporated by 1.2% during the 3rd quarter. Cardinal Capital Management now owns 77,891 shares of the company’s stock worth $5,551,000 after acquiring an additional 909 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

McCormick & Company, Incorporated Trading Up 2.2 %

NYSE:MKC opened at $86.30 on Friday. The firm has a market cap of $23.15 billion, a P/E ratio of 33.71, a PEG ratio of 5.39 and a beta of 0.61. The company has a current ratio of 0.77, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The stock’s 50 day simple moving average is $83.54 and its 200-day simple moving average is $82.54. McCormick & Company, Incorporated has a 12-month low of $71.19 and a 12-month high of $107.35.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last released its earnings results on Thursday, October 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. McCormick & Company, Incorporated had a return on equity of 15.65% and a net margin of 10.86%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.67 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 9th. Stockholders of record on Friday, December 30th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.37. McCormick & Company, Incorporated’s payout ratio is presently 60.94%.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $82.00, for a total value of $410,000.00. Following the transaction, the director now owns 38,137 shares of the company’s stock, valued at $3,127,234. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Brendan M. Foley sold 2,152 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $74.62, for a total value of $160,582.24. Following the sale, the chief operating officer now directly owns 702 shares in the company, valued at $52,383.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $82.00, for a total value of $410,000.00. Following the completion of the sale, the director now owns 38,137 shares in the company, valued at $3,127,234. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,152 shares of company stock valued at $942,632. Company insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays cut their target price on McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. Exane BNP Paribas began coverage on McCormick & Company, Incorporated in a research report on Tuesday, November 15th. They set an “outperform” rating and a $94.00 target price on the stock. StockNews.com began coverage on McCormick & Company, Incorporated in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on McCormick & Company, Incorporated from $79.00 to $83.00 and gave the stock a “hold” rating in a research report on Tuesday, December 6th. Finally, BNP Paribas began coverage on McCormick & Company, Incorporated in a research report on Tuesday, November 15th. They set an “outperform” rating and a $94.00 price target on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.17.

McCormick & Company, Incorporated Profile

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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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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