Aigen Investment Management LP Purchases New Shares in McCormick & Company, Incorporated (NYSE:MKC)

Aigen Investment Management LP acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 3,196 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently modified their holdings of MKC. Point72 Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Vanguard Group Inc. grew its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the period. Marshall Wace LLP bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $51,286,000. Millennium Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after purchasing an additional 386,320 shares during the last quarter. Finally, Covea Finance bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $31,740,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $73.97 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $80.48 and a 200-day moving average price of $76.23. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49. The firm has a market capitalization of $19.85 billion, a PE ratio of 25.16, a P/E/G ratio of 3.46 and a beta of 0.77.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Ratings Changes

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,194,444. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by company insiders.

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.