Envestnet Asset Management Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 221.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,886 shares of the company’s stock after purchasing an additional 13,709 shares during the quarter. Envestnet Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $2,042,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MKC. Amundi Pioneer Asset Management Inc. lifted its stake in shares of McCormick & Company, Incorporated by 81.9% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock valued at $167,208,000 after purchasing an additional 733,375 shares during the period. Darrell & King LLC acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $34,615,000. Koch Industries Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $306,000. Vanguard Group Inc. lifted its stake in shares of McCormick & Company, Incorporated by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock valued at $1,195,875,000 after purchasing an additional 301,377 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of McCormick & Company, Incorporated by 153.3% in the 2nd quarter. Janus Henderson Group PLC now owns 478,259 shares of the company’s stock valued at $46,638,000 after purchasing an additional 289,474 shares during the period. 76.25% of the stock is currently owned by institutional investors.

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

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at $101.43 on Friday. The company has a market capitalization of $13,131.14, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.28 and a beta of 0.53. McCormick & Company, Incorporated has a 12 month low of $89.65 and a 12 month high of $106.50. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.47 and a current ratio of 0.95.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, September 28th. The company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.07. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, Incorporated had a return on equity of 26.09% and a net margin of 10.05%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. analysts expect that McCormick & Company, Incorporated will post 4.22 earnings per share for the current fiscal 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 paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, December 28th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 51.93%.

In related news, Director Maritza Gomez Montiel sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $96.26, for a total transaction of $240,650.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Freeman A. Hrabowski III sold 3,000 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,000 shares of company stock worth $1,598,490 in the last ninety days. 15.30% of the stock is currently owned by company insiders.

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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.

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

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