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

Assetmark Inc. raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 165.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 754 shares of the company’s stock after buying an additional 470 shares during the quarter. Assetmark Inc.’s holdings in McCormick & Company, Incorporated were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MKC. CWA Asset Management Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $2,289,000. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. Portside Wealth Group LLC lifted its holdings in McCormick & Company, Incorporated by 4.6% in the 3rd quarter. Portside Wealth Group LLC now owns 7,446 shares of the company’s stock valued at $613,000 after purchasing an additional 330 shares in the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $140,000. Finally, Jmac Enterprises LLC boosted its stake in shares of McCormick & Company, Incorporated by 57.7% during the 3rd quarter. Jmac Enterprises LLC now owns 7,106 shares of the company’s stock worth $585,000 after purchasing an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.9 %

MKC stock opened at $74.62 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 3.38 and a beta of 0.77. The business has a fifty day simple moving average of $80.13 and a 200-day simple moving average of $76.22. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, equities research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.42 dividend. 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 payout ratio is 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 20,000 shares of company stock worth $1,565,850. Company insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased 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 McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen upped their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target 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.