Tokio Marine Asset Management Co. Ltd. Acquires 432 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Tokio Marine Asset Management Co. Ltd. lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,719 shares of the company’s stock after purchasing an additional 432 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MKC. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the third quarter valued at about $28,000. Capital Advisors Ltd. LLC lifted its position in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $29,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Finally, 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Down 1.3 %

Shares of MKC stock opened at $73.97 on Friday. The company’s fifty day simple moving average is $80.30 and its two-hundred day simple moving average is $76.21. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49. The stock has a market cap of $19.85 billion, a P/E ratio of 25.16, a PEG ratio of 3.46 and a beta of 0.77. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.42 per share. 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 dividend payout ratio is currently 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,194,444. This represents a 11.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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