Larson Financial Group LLC Purchases 1,368 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Larson Financial Group LLC boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 90.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,879 shares of the company’s stock after purchasing an additional 1,368 shares during the quarter. Larson Financial Group LLC’s holdings in McCormick & Company, Incorporated were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after purchasing an additional 30,696 shares in the last quarter. Nuance Investments LLC raised its holdings in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Swiss National Bank increased its holdings in shares of McCormick & Company, Incorporated by 0.3% during the third quarter. Swiss National Bank now owns 747,900 shares of the company’s stock valued at $61,552,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have 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 Down 0.1 %

McCormick & Company, Incorporated stock opened at $77.77 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The stock has a market capitalization of $20.87 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 3.53 and a beta of 0.77. The business’s fifty day moving average is $79.21 and its 200 day moving average is $76.29.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 15.30% and a net margin of 11.87%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.31%. 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. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America raised their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One equities research 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. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus 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.