McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 187.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 296,419 shares of the company’s stock after purchasing an additional 193,453 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McCormick & Company, Incorporated were worth $24,395,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Bridgewater Associates LP purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $348,000. Townsquare Capital LLC lifted its holdings in McCormick & Company, Incorporated by 7.6% during the third quarter. Townsquare Capital LLC now owns 77,516 shares of the company’s stock valued at $6,380,000 after purchasing an additional 5,467 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of McCormick & Company, Incorporated by 34.1% in the third quarter. BNP Paribas Financial Markets now owns 489,931 shares of the company’s stock valued at $40,321,000 after purchasing an additional 124,666 shares during the period. Brooklyn Investment Group purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $84,000. Finally, D.A. Davidson & CO. raised its position in shares of McCormick & Company, Incorporated by 3.7% during the 3rd quarter. D.A. Davidson & CO. now owns 14,253 shares of the company’s stock worth $1,173,000 after purchasing an additional 503 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of MKC opened at $78.35 on Friday. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49. 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 stock has a fifty day simple moving average of $79.01 and a two-hundred day simple moving average of $76.32. The company has a market capitalization of $21.03 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.22%.

Analysts Set New Price Targets

MKC has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 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 report on Wednesday, October 2nd. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen lifted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $79.57.

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.