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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,003,136 shares of the company’s stock after buying an additional 177,567 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.12% of McCormick & Company, Incorporated worth $247,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the third quarter worth $28,000. Capital Advisors Ltd. LLC raised its stake in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth about $29,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated during the third quarter valued at about $40,000. Finally, 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $78.35 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two 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 has a market cap of $21.03 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.77. The firm’s fifty day moving average price is $79.01 and its 200-day moving average price is $76.32.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.45 per share. 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 yield of 2.30%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.22%.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upped their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.57.

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.