Benjamin Edwards Inc. Increases Stock Holdings in McCormick & Company, Incorporated $MKC

Benjamin Edwards Inc. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 688,032 shares of the company’s stock after purchasing an additional 92,799 shares during the quarter. Benjamin Edwards Inc. owned 0.26% of McCormick & Company, Incorporated worth $46,036,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of Jackson Hole Trust bought a new position in McCormick & Company, Incorporated during the second quarter valued at $25,000. Elevation Point Wealth Partners LLC bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth about $27,000. Heartwood Wealth Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $28,000. Curio Wealth LLC grew its holdings in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 399 shares during the last quarter. Finally, MTM Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth about $30,000. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of McCormick & Company, Incorporated stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the transaction, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Sanford C. Bernstein reissued an “outperform” rating and set a $87.00 price target on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. UBS Group dropped their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Monday, December 15th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.50.

McCormick & Company, Incorporated Stock Down 1.5%

Shares of McCormick & Company, Incorporated stock opened at $65.36 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 4.07 and a beta of 0.62. The firm’s 50-day moving average is $66.33 and its two-hundred day moving average is $68.54. McCormick & Company, Incorporated has a 1 year low of $62.64 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 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 12th. Shareholders of record on Monday, December 29th will be issued a dividend of $0.48 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 66.44%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.