34,823 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 34,823 shares of the company’s stock, valued at approximately $2,866,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $28,000. Capital Advisors Ltd. LLC boosted its stake in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $29,000. Kennebec Savings Bank bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $40,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen increased 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. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.57.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last three months. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of NYSE MKC opened at $77.58 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The firm’s 50-day moving average price is $79.62 and its 200-day moving average price is $76.26. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 3.54 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data 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 business had revenue of $1.68 billion for 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 company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

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.