Jmac Enterprises LLC Buys 2,600 Shares of McCormick & Company, Incorporated (NYSE:MKC)

by · The Markets Daily

Jmac Enterprises LLC grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 57.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,106 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Jmac Enterprises LLC’s holdings in McCormick & Company, Incorporated were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC increased its position in McCormick & Company, Incorporated by 4.4% in the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after buying an additional 136,080 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after buying an additional 60,512 shares during the period. Nuance Investments LLC lifted its position in shares of McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after buying an additional 99,741 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake 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 valued at $69,256,000 after buying an additional 975,255 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 2.8 %

Shares of MKC opened at $76.66 on Thursday. The stock has a market capitalization of $20.57 billion, a P/E ratio of 26.07, a PEG ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $81.02 and a two-hundred day simple moving average of $76.19.

McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the company posted $0.65 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.19%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MKC shares. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America increased their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 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 assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.57.

View Our Latest Stock Report on McCormick & Company, Incorporated

About McCormick & Company, Incorporated

(Free Report)

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.

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