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

Broderick Brian C lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 73.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,379 shares of the company’s stock after buying an additional 16,204 shares during the period. Broderick Brian C’s holdings in McCormick & Company, Incorporated were worth $3,159,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sei Investments Co. lifted its stake in McCormick & Company, Incorporated by 11.8% in the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after acquiring an additional 16,420 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 30.5% during the 1st quarter. QRG Capital Management Inc. now owns 10,782 shares of the company’s stock valued at $828,000 after acquiring an additional 2,523 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in McCormick & Company, Incorporated by 12.5% during the 1st quarter. Russell Investments Group Ltd. now owns 105,523 shares of the company’s stock worth $8,093,000 after acquiring an additional 11,751 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after purchasing an additional 7,898 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in McCormick & Company, Incorporated by 12.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 389,871 shares of the company’s stock valued at $29,946,000 after purchasing an additional 43,988 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $74.92 on Friday. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. 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’s fifty day moving average price is $80.64 and its two-hundred day moving average price is $76.24. The firm has a market cap of $20.11 billion, a PE ratio of 25.48, a PEG ratio of 3.46 and a beta of 0.77.

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, equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MKC shares. TD Cowen boosted their price target 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 raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.57.

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.