Bank of Montreal Can Buys 10,559 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bank of Montreal Can increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 366,459 shares of the company’s stock after purchasing an additional 10,559 shares during the quarter. Bank of Montreal Can owned 0.14% of McCormick & Company, Incorporated worth $30,504,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Boston Family Office LLC increased its position in shares of McCormick & Company, Incorporated by 1.1% during the 3rd quarter. Boston Family Office LLC now owns 199,869 shares of the company’s stock valued at $16,449,000 after purchasing an additional 2,261 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in McCormick & Company, Incorporated during the 3rd quarter valued at $2,866,000. Bank of Hawaii purchased a new position in McCormick & Company, Incorporated during the 3rd quarter valued at $220,000. Daiwa Securities Group Inc. boosted its holdings in McCormick & Company, Incorporated by 20.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 33,120 shares of the company’s stock valued at $2,726,000 after acquiring an additional 5,609 shares during the period. Finally, Borer Denton & Associates Inc. boosted its holdings in McCormick & Company, Incorporated by 1.1% during the 3rd quarter. Borer Denton & Associates Inc. now owns 53,429 shares of the company’s stock valued at $4,397,000 after acquiring an additional 600 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm’s 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 completion of the sale, the director now owns 40,436 shares of the company’s stock, valued at $3,174,226. This trade represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $77.79 on Friday. 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 business’s 50 day moving average is $79.10 and its two-hundred day moving average is $76.30. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. 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 released 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 for 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 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.