Palisade Asset Management LLC Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Palisade Asset Management LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,729 shares of the company’s stock after buying an additional 560 shares during the quarter. Palisade Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $20,227,000. Hemenway Trust Co LLC increased its holdings in McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Oppenheimer & Co. Inc. raised its position in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares in the last quarter. Cetera Investment Advisers raised its position in McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after buying an additional 6,588 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 20,000 shares of company stock worth $1,565,850. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

NYSE MKC opened at $77.58 on Friday. The firm’s fifty day moving average price is $79.62 and its 200 day moving average price is $76.25. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion during 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 business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. 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.