Clarkston Capital Partners LLC Acquires 1,505 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Clarkston Capital Partners LLC raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 115,346 shares of the company’s stock after acquiring an additional 1,505 shares during the quarter. Clarkston Capital Partners LLC’s holdings in McCormick & Company, Incorporated were worth $9,493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital Advisors Ltd. LLC lifted its holdings in shares of 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 purchasing an additional 175 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth about $28,000. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $39,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $73.97 on Monday. The business’s fifty day moving average is $80.30 and its 200 day moving average is $76.22. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two 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. The company has a market capitalization of $19.85 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 3.38 and a beta of 0.77.

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, beating analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date 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 (DPR) is presently 57.14%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now 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 SEC, which is accessible through the SEC website. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last three months. Company insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MKC shares. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America boosted 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. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report 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 company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $79.57.

About McCormick & Company, Incorporated

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.