DLK Investment Management LLC Purchases 1,609 Shares of McCormick & Company, Incorporated (NYSE:MKC)

DLK Investment Management LLC boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,765 shares of the company’s stock after purchasing an additional 1,609 shares during the quarter. McCormick & Company, Incorporated comprises approximately 2.4% of DLK Investment Management LLC’s investment portfolio, making the stock its 13th largest holding. DLK Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $6,318,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MKC. Security National Bank of SO Dak boosted its stake in McCormick & Company, Incorporated by 3.5% during the 4th quarter. Security National Bank of SO Dak now owns 6,983 shares of the company’s stock valued at $478,000 after purchasing an additional 239 shares during the last quarter. Aurora Investment Counsel bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth $524,000. Novak & Powell Financial Services Inc. bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth $287,000. V Square Quantitative Management LLC raised its position in McCormick & Company, Incorporated by 69.0% in the 4th quarter. V Square Quantitative Management LLC now owns 8,256 shares of the company’s stock valued at $565,000 after buying an additional 3,372 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $298,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $0.48 during trading hours on Friday, reaching $80.26. The stock had a trading volume of 344,058 shares, compared to its average volume of 1,935,452. The stock has a market cap of $21.56 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. The stock has a 50 day simple moving average of $80.63 and a 200 day simple moving average of $75.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MKC. Bank of America boosted their price target 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. TD Cowen upped their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $79.57.

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.90% of the stock is owned by 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.