2,676 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Bank of Hawaii

Bank of Hawaii purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,676 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors have also recently made changes to their positions in MKC. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. Capital Advisors Ltd. LLC boosted its holdings in 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 acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated in the second quarter worth approximately $29,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MKC shares. TD Cowen increased their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.57.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $77.23 on Tuesday. The firm has a market cap of $20.73 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. 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 company’s 50 day moving average is $79.47 and its 200-day moving average is $76.27. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 Increases Dividend

The business also recently disclosed 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. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. 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 2.33%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

McCormick & Company, Incorporated Company 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.