Geller Advisors LLC Has $279,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

Geller Advisors LLC raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,384 shares of the company’s stock after acquiring an additional 233 shares during the quarter. Geller Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $279,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated during the third quarter valued at about $20,227,000. Hemenway Trust Co LLC boosted its position in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Oppenheimer & Co. Inc. boosted its position in McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares during the period. Boston Trust Walden Corp grew its holdings in McCormick & Company, Incorporated by 1.1% during the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after purchasing an additional 6,588 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $2,819,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MKC. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research note on Monday. Bank of America increased their target price 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. Finally, TD Cowen lifted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $81.00.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $79.96 on Tuesday. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The company has a market capitalization of $21.46 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.31 and a beta of 0.75. The stock has a 50 day moving average of $78.41 and a two-hundred day moving average of $76.53. 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 (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. 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. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business’s 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 transaction, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last 90 days. 22.90% of the stock is 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.