Brooklyn Investment Group Invests $84,000 in McCormick & Company, Incorporated (NYSE:MKC)

Brooklyn Investment Group purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,023 shares of the company’s stock, valued at approximately $84,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HCR Wealth Advisors lifted its position 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 valued at $381,000 after acquiring an additional 135 shares in the last quarter. Wallington Asset Management LLC lifted its holdings in McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after purchasing an additional 136 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after purchasing an additional 141 shares during the last quarter. KFG Wealth Management LLC grew its holdings in shares of 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 in the last quarter. Finally, Aurora Investment Counsel grew its holdings in shares of 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 in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 over the last 90 days. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.0 %

Shares of NYSE MKC opened at $77.79 on Friday. The company has a 50 day simple moving average of $79.10 and a 200-day simple moving average of $76.30. The company has a market capitalization of $20.88 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.53 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49.

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

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. 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 2.31%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

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

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.