R. W. Roge & Company Inc. Makes New $227,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

R. W. Roge & Company Inc. bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, Holdings Channel.com reports. The fund bought 2,769 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. Capital Advisors Ltd. LLC increased 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 valued at $27,000 after purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated in the second quarter valued at about $29,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated during the third quarter worth about $40,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $35,000. Institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective 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, TD Cowen increased their target price 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $79.57.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.9 %

NYSE MKC opened at $75.31 on Wednesday. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock’s 50 day moving average price is $79.96 and its two-hundred day moving average price is $76.22. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.38 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data 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. 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 the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts anticipate 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. This represents a $1.80 annualized dividend and a yield of 2.39%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is presently 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.