Holocene Advisors LP Acquires 150,938 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Holocene Advisors LP raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 475.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 182,698 shares of the company’s stock after purchasing an additional 150,938 shares during the quarter. Holocene Advisors LP’s holdings in McCormick & Company, Incorporated were worth $15,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after buying an additional 177,567 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after purchasing an additional 30,696 shares during the last quarter. Nuance Investments LLC increased its holdings in shares of McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after purchasing an additional 99,741 shares in the last quarter. Point72 Asset Management L.P. raised its position in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in McCormick & Company, Incorporated by 0.3% during the 3rd quarter. Swiss National Bank now owns 747,900 shares of the company’s stock worth $61,552,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen boosted their price objective on 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 raised their target price 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. Finally, Stifel Nicolaus boosted 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. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the company’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 directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of NYSE:MKC opened at $78.00 on Wednesday. The company has a 50 day moving average price of $78.80 and a two-hundred day moving average price of $76.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The company has a market capitalization of $20.93 billion, a PE ratio of 26.53, a PEG ratio of 3.35 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $63.88 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during 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 firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Analysts forecast 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. Investors of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

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.