Papp L Roy & Associates Has $2.99 Million Position in McCormick & Company, Incorporated (MKC)

Papp L Roy & Associates cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,172 shares of the company’s stock after selling 2,633 shares during the period. Papp L Roy & Associates’ holdings in McCormick & Company, were worth $2,994,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Toronto Dominion Bank grew its stake in McCormick & Company, by 24.3% in the second quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock valued at $3,838,000 after acquiring an additional 7,684 shares during the period. Swiss National Bank grew its stake in McCormick & Company, by 1.2% in the second quarter. Swiss National Bank now owns 913,348 shares of the company’s stock valued at $89,061,000 after acquiring an additional 10,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in McCormick & Company, by 15.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,241 shares of the company’s stock valued at $2,949,000 after acquiring an additional 4,044 shares during the period. Ameritas Investment Partners Inc. grew its stake in McCormick & Company, by 8.7% in the second quarter. Ameritas Investment Partners Inc. now owns 35,374 shares of the company’s stock valued at $3,449,000 after acquiring an additional 2,843 shares during the period. Finally, Mcdaniel Terry & Co. grew its stake in McCormick & Company, by 38.6% in the second quarter. Mcdaniel Terry & Co. now owns 106,573 shares of the company’s stock valued at $10,392,000 after acquiring an additional 29,656 shares during the period. 69.38% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on MKC. Stifel Nicolaus restated a “hold” rating and issued a $103.00 price target (up from $95.00) on shares of McCormick & Company, in a report on Monday, October 2nd. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Monday, October 2nd. Citigroup Inc. boosted their price target on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Credit Suisse Group restated a “buy” rating and issued a $115.00 price target (up from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. Finally, Jefferies Group LLC set a $120.00 price target on McCormick & Company, and gave the company a “buy” rating in a report on Monday, October 30th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $106.00.

McCormick & Company, Incorporated (MKC) traded up $1.41 on Monday, reaching $96.92. The company had a trading volume of 839,700 shares, compared to its average volume of 880,200. 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 company has a market capitalization of $12,696.23, a price-to-earnings ratio of 24.41, a PEG ratio of 2.45 and a beta of 0.53. McCormick & Company, Incorporated has a fifty-two week low of $88.64 and a fifty-two week high of $106.50.

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

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.88 annualized dividend and a yield of 1.94%. McCormick & Company,’s dividend payout ratio is 51.93%.

In other news, Director Freeman A. Hrabowski III sold 3,000 shares of the company’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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael R. Smith sold 5,500 shares of the company’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 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. Insiders sold 13,500 shares of company stock worth $1,357,840 in the last 90 days. Corporate insiders own 15.30% of the company’s stock.

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McCormick & Company, 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, (NYSE:MKC)

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