Oppenheimer & Co. Inc. Acquires 14,652 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Oppenheimer & Co. Inc. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 57.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,077 shares of the company’s stock after purchasing an additional 14,652 shares during the period. Oppenheimer & Co. Inc.’s holdings in McCormick & Company, Incorporated were worth $3,298,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $20,227,000. Cetera Investment Advisers boosted its position in McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares during the period. Hemenway Trust Co LLC grew its holdings 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 valued at $11,552,000 after purchasing an additional 58,511 shares during the last quarter. Sei Investments Co. raised its position in shares of 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 purchasing an additional 16,420 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of McCormick & Company, Incorporated by 1.1% in 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 period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $73.97 on Friday. The firm’s 50-day moving average is $80.48 and its 200-day moving average is $76.23. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 3.46 and a beta of 0.77. 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 52-week low of $63.67 and a 52-week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.27%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MKC. TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on 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, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.57.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 over the last ninety days. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated 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.