Pathstone Holdings LLC Grows Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Pathstone Holdings LLC grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,484 shares of the company’s stock after acquiring an additional 3,163 shares during the period. Pathstone Holdings LLC’s holdings in McCormick & Company, Incorporated were worth $4,731,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $28,000. Capital Advisors Ltd. LLC raised its position in shares of McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated during the second quarter valued at $29,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated during the third quarter worth about $40,000. Finally, 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $35,000. 79.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 in the last ninety days. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Trading Down 0.5 %

MKC stock opened at $77.58 on Friday. The company has a market capitalization of $20.82 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The company’s 50 day moving average price is $79.62 and its two-hundred day moving average price is $76.25.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Analyst Ratings Changes

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