Hemenway Trust Co LLC Grows Stake in McCormick & Company, Incorporated (NYSE:MKC)

Hemenway Trust Co LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 71.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 140,362 shares of the company’s stock after acquiring an additional 58,511 shares during the quarter. Hemenway Trust Co LLC’s holdings in McCormick & Company, Incorporated were worth $11,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of McCormick & Company, Incorporated by 8.3% during the 1st quarter. Empowered Funds LLC now owns 27,011 shares of the company’s stock valued at $2,075,000 after buying an additional 2,077 shares in the last quarter. Forsta AP Fonden grew its holdings in McCormick & Company, Incorporated by 8.0% in the first quarter. Forsta AP Fonden now owns 47,200 shares of the company’s stock worth $3,625,000 after purchasing an additional 3,500 shares during the period. Sei Investments Co. increased its stake in shares of McCormick & Company, Incorporated by 11.8% during the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after purchasing an additional 16,420 shares in the last quarter. Inspire Investing LLC bought a new position in McCormick & Company, Incorporated during the 1st quarter valued at approximately $443,000. Finally, QRG Capital Management Inc. raised its position in shares of McCormick & Company, Incorporated by 30.5% in the 1st quarter. QRG Capital Management Inc. now owns 10,782 shares of the company’s stock worth $828,000 after purchasing an additional 2,523 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 15,000 shares of company stock valued at $1,179,150 in the last quarter. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MKC shares. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen raised their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded down $0.42 during trading on Tuesday, reaching $76.61. The stock had a trading volume of 59,184 shares, compared to its average volume of 1,899,398. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a market cap of $20.56 billion, a PE ratio of 26.20, a PEG ratio of 3.54 and a beta of 0.77. The business has a fifty day moving average price of $80.86 and a 200-day moving average price of $76.23.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced 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 was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

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.