Benjamin Edwards Inc. Has $37.61 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Benjamin Edwards Inc. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2,778.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 456,920 shares of the company’s stock after buying an additional 441,048 shares during the period. Benjamin Edwards Inc. owned approximately 0.17% of McCormick & Company, Incorporated worth $37,606,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Paloma Partners Management Co bought a new position in McCormick & Company, Incorporated during the third quarter worth $418,000. Point72 Hong Kong Ltd acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $13,994,000. Alethea Capital Management LLC bought a new position in McCormick & Company, Incorporated in the third quarter worth approximately $347,000. Edgestream Partners L.P. acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $6,907,000. Finally, Verition Fund Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 45.6% during the third quarter. Verition Fund Management LLC now owns 232,404 shares of the company’s stock valued at $19,127,000 after acquiring an additional 72,734 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.8 %

MKC opened at $78.41 on Monday. 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 has a one year low of $63.67 and a one year high of $85.49. The firm has a market capitalization of $21.04 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 3.58 and a beta of 0.77. The company has a fifty day moving average price of $79.01 and a 200-day moving average price of $76.34.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating 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 business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $0.65 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.30%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Analyst Ratings Changes

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This trade 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. In the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

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.