Steward Partners Investment Advisory LLC Invests $453,000 in McCormick & Company, Incorporated (MKC) Stock

Steward Partners Investment Advisory LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,416 shares of the company’s stock, valued at approximately $453,000.

A number of other hedge funds have also recently made changes to their positions in MKC. IFP Advisors Inc boosted its holdings in shares of McCormick & Company, Incorporated by 28.4% during the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock valued at $174,000 after acquiring an additional 395 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 3.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 358,274 shares of the company’s stock valued at $34,936,000 after acquiring an additional 10,766 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $358,000. State of Wisconsin Investment Board purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $4,311,000. Finally, Legal & General Group Plc boosted its holdings in shares of McCormick & Company, Incorporated by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 674,546 shares of the company’s stock valued at $65,763,000 after acquiring an additional 33,406 shares during the last quarter. 76.14% of the stock is currently owned by institutional investors.

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $99.50, for a total value of $497,500.00. Following the transaction, the director now owns 18,825 shares of the company’s stock, valued at $1,873,087.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael R. Smith sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the completion of the transaction, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The disclosure for this sale can be found here. In the last three months, insiders sold 16,000 shares of company stock worth $1,598,490. 15.30% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on MKC. BidaskClub raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Citigroup raised their price target on shares of McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $103.00 price target (up previously from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $110.00 price target on shares of McCormick & Company, Incorporated in a report on Thursday, August 31st. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $106.67.

McCormick & Company, Incorporated (NYSE:MKC) opened at $101.69 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86. The stock has a market cap of $13,287.03, a P/E ratio of 25.55, a P/E/G ratio of 2.31 and a beta of 0.53. McCormick & Company, Incorporated has a 1-year low of $89.65 and a 1-year high of $106.50.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, Incorporated had a net margin of 10.05% and a return on equity of 26.09%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. analysts expect that McCormick & Company, Incorporated will post 4.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.52 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.05%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 51.93%.

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McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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