Tokio Marine Asset Management Co. Ltd. Acquires 432 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Tokio Marine Asset Management Co. Ltd. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,719 shares of the company’s stock after acquiring an additional 432 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $28,000. Capital Advisors Ltd. LLC grew its stake in shares of 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 buying an additional 175 shares during the last quarter. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $29,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $40,000. Finally, 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the second quarter worth $35,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $73.97 on Friday. 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 firm has a market cap of $19.85 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 3.46 and a beta of 0.77. The business has a 50-day simple moving average of $80.30 and a two-hundred day simple moving average of $76.21. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share 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 company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

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

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by insiders.

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.