Broderick Brian C Buys 16,204 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Broderick Brian C lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 73.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,379 shares of the company’s stock after purchasing an additional 16,204 shares during the quarter. Broderick Brian C’s holdings in McCormick & Company, Incorporated were worth $3,159,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC grew its stake in McCormick & Company, Incorporated by 87.5% during the second 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. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares of the company’s stock, valued at $2,210,237.61. The trade was a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last ninety days. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research reports. TD Cowen raised their target price on McCormick & Company, Incorporated from $84.00 to $86.00 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 research report on Wednesday, October 2nd. Stifel Nicolaus boosted 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 note on Wednesday, October 2nd. Finally, Bank of America increased their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Down 1.2 %

Shares of NYSE:MKC opened at $74.92 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market cap of $20.11 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 3.46 and a beta of 0.77. The company has a 50 day moving average of $80.64 and a 200-day moving average of $76.24. McCormick & Company, Incorporated has a one year low of $63.67 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The firm 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 business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is 57.14%.

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.