McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by KBC Group NV

KBC Group NV lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 29.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,852 shares of the company’s stock after purchasing an additional 8,638 shares during the quarter. KBC Group NV’s holdings in McCormick & Company, Incorporated were worth $3,115,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MKC. HCR Wealth Advisors grew its position in shares of McCormick & Company, Incorporated by 2.6% in the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after purchasing an additional 135 shares during the period. Wallington Asset Management LLC increased its stake in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after buying an additional 136 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after buying an additional 141 shares in the last quarter. KFG Wealth Management LLC lifted its position in shares of McCormick & Company, Incorporated by 1.5% in the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after acquiring an additional 156 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $73.97 on Monday. The business’s fifty day moving average price is $80.30 and its 200 day moving average price is $76.22. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $19.85 billion, a PE ratio of 25.16, a P/E/G ratio of 3.38 and a beta of 0.77.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given 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 2.27%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated 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 directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last 90 days. Corporate insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.