Wilmington Savings Fund Society FSB Has $7.69 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Wilmington Savings Fund Society FSB grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,400 shares of the company’s stock after buying an additional 8,671 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in McCormick & Company, Incorporated were worth $7,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HCR Wealth Advisors grew its position in McCormick & Company, Incorporated by 2.6% in the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after acquiring an additional 135 shares during the last quarter. Wallington Asset Management LLC lifted its stake in McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after purchasing an additional 136 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in McCormick & Company, Incorporated by 2.9% in the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after buying an additional 141 shares in the last quarter. KFG Wealth Management LLC boosted its position in McCormick & Company, Incorporated by 1.5% in the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after buying an additional 156 shares in the last quarter. Finally, Aurora Investment Counsel increased its holdings in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after buying an additional 172 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

MKC has been the topic of several recent research reports. 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. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $81.00.

McCormick & Company, Incorporated Trading Up 0.1 %

Shares of McCormick & Company, Incorporated stock opened at $81.41 on Friday. The company has a market capitalization of $21.85 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 3.48 and a beta of 0.75. The stock has a fifty day simple moving average of $78.36 and a 200 day simple moving average of $76.64. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49. 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 released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The business 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 firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

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.