State Street Corp Has $1.26 Billion Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

State Street Corp lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,315,905 shares of the company’s stock after acquiring an additional 1,114,706 shares during the quarter. State Street Corp owned approximately 5.71% of McCormick & Company, Incorporated worth $1,260,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. HCR Wealth Advisors increased its stake in shares of McCormick & Company, Incorporated by 2.6% in the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after acquiring an additional 135 shares during the last quarter. Wallington Asset Management LLC increased its position in McCormick & Company, Incorporated by 3.4% during the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after buying an additional 136 shares during the last quarter. Aptus Capital Advisors LLC increased its position in McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after buying an additional 141 shares during the last quarter. KFG Wealth Management LLC increased its position in McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after buying an additional 156 shares during the last quarter. Finally, Aurora Investment Counsel increased its position in McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after buying an additional 172 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen upped their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised 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 note on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Stock Down 0.8 %

Shares of MKC opened at $77.50 on Friday. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 3.31 and a beta of 0.75. The company has a 50-day moving average price of $78.58 and a two-hundred day moving average price of $76.42. 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 has a 12 month low of $63.88 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 net margin of 11.87% and a return on equity of 15.30%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. Equities analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

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

Insider Transactions at McCormick & Company, Incorporated

In other 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 transaction of $391,650.00. Following the completion of the sale, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

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.