UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 177,567 Shares of McCormick & Company, Incorporated (NYSE:MKC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 6.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,003,136 shares of the company’s stock after purchasing an additional 177,567 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in McCormick & Company, Incorporated were worth $247,158,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Capital Advisors Ltd. LLC increased its stake in shares of McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated in the 3rd quarter worth $28,000. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated in the second quarter valued at about $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $39,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of several recent analyst reports. Bank of America boosted 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 boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen raised their price target 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. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.57.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last 90 days. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $78.35 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.77. The stock has a fifty day simple moving average of $79.01 and a two-hundred day simple moving average of $76.32. 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 issued its quarterly 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. 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 during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the business earned $0.65 EPS. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.45 dividend. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.

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.