Oppenheimer Asset Management Inc. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4,874.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 22,585 shares of the company’s stock after acquiring an additional 22,131 shares during the period. Oppenheimer Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $2,318,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC lifted its position in McCormick & Company, Incorporated by 136.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock worth $154,000 after acquiring an additional 866 shares in the last quarter. Dupont Capital Management Corp acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $173,000. YorkBridge Wealth Partners LLC acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $174,000. BlueMountain Capital Management LLC lifted its position in McCormick & Company, Incorporated by 1,600.0% during the 2nd quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after acquiring an additional 1,616 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in McCormick & Company, Incorporated by 28.4% during the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after acquiring an additional 395 shares in the last quarter. 76.25% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Freeman A. Hrabowski III sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael R. Smith sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the completion of the sale, the vice president now owns 19,248 shares of the company’s stock, valued at $1,974,844.80. 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 over the last 90 days. 15.30% of the stock is owned by company insiders.

McCormick & Company, Incorporated (NYSE:MKC) traded down $0.64 during mid-day trading on Tuesday, reaching $100.52. The company’s stock had a trading volume of 1,207,200 shares, compared to its average volume of 892,691. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86. McCormick & Company, Incorporated has a 52 week low of $89.65 and a 52 week high of $106.50. The stock has a market cap of $13,160.00, a P/E ratio of 25.48, a PEG ratio of 2.30 and a beta of 0.53.

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 the consensus estimate of $1.05 by $0.07. McCormick & Company, Incorporated had a return on equity of 26.09% and a net margin of 10.05%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $1.03 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities research analysts anticipate that McCormick & Company, Incorporated will post 4.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, December 28th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 2.07%. McCormick & Company, Incorporated’s payout ratio is currently 52.08%.

Several equities analysts recently commented on MKC shares. Jefferies Group reissued a “buy” rating and set a $110.00 price target on shares of McCormick & Company, Incorporated in a research report on Thursday, August 31st. BidaskClub raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Credit Suisse Group boosted their price target on McCormick & Company, Incorporated from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Monday, September 18th. Finally, Citigroup boosted their price target on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. McCormick & Company, Incorporated has an average rating of “Hold” and an average target price of $106.67.

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About McCormick & Company, Incorporated

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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