Borer Denton & Associates Inc. Acquires 600 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Borer Denton & Associates Inc. raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,429 shares of the company’s stock after buying an additional 600 shares during the quarter. McCormick & Company, Incorporated comprises 1.5% of Borer Denton & Associates Inc.’s investment portfolio, making the stock its 22nd largest holding. Borer Denton & Associates Inc.’s holdings in McCormick & Company, Incorporated were worth $4,397,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MKC. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated during the third quarter valued at about $28,000. Capital Advisors Ltd. LLC increased 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 valued at $27,000 after acquiring an additional 175 shares during the period. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $29,000. Kennebec Savings Bank bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. 79.74% of the stock is owned by institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of MKC opened at $77.58 on Friday. The business’s fifty day moving average price is $79.62 and its two-hundred day moving average price is $76.25. The firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.56 and a beta of 0.77. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49. 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 (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. The business had revenue of $1.68 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MKC shares. Bank of America raised their price objective 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. Stifel Nicolaus raised their price target 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. TD Cowen lifted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One equities research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.57.

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.