iA Global Asset Management Inc. Boosts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

iA Global Asset Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,165 shares of the company’s stock after buying an additional 445 shares during the quarter. iA Global Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MKC. HCR Wealth Advisors increased its stake in shares of McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after purchasing an additional 135 shares in the last quarter. Wallington Asset Management LLC increased its position in McCormick & Company, Incorporated by 3.4% in 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 in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 2.9% in 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 period. KFG Wealth Management LLC lifted its position in shares of McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after buying an additional 156 shares in the last quarter. Finally, Aurora Investment Counsel grew its stake in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after acquiring an additional 172 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 2.5 %

Shares of MKC stock opened at $81.94 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $21.99 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 3.31 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49. The stock’s 50-day moving average price is $78.41 and its 200-day moving average price is $76.53.

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

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared 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 is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 over the last 90 days. 22.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MKC shares. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Monday. TD Cowen lifted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company 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 note on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upped their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.