Cipher Capital LP Buys New Stake in McCormick & Company, Incorporated (MKC)

Cipher Capital LP bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 86,437 shares of the company’s stock, valued at approximately $8,872,000. McCormick & Company, makes up approximately 0.7% of Cipher Capital LP’s investment portfolio, making the stock its 11th largest holding. Cipher Capital LP owned 0.07% of McCormick & Company, at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Rowland & Co. Investment Counsel ADV boosted its holdings in McCormick & Company, by 0.4% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 3,148 shares of the company’s stock worth $308,000 after acquiring an additional 11 shares in the last quarter. HM Capital Management LLC boosted its holdings in McCormick & Company, by 0.5% in the second quarter. HM Capital Management LLC now owns 3,686 shares of the company’s stock worth $359,000 after acquiring an additional 17 shares in the last quarter. Ironwood Investment Management LLC boosted its holdings in McCormick & Company, by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 3,628 shares of the company’s stock worth $354,000 after acquiring an additional 25 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its holdings in McCormick & Company, by 0.3% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,727 shares of the company’s stock worth $1,339,000 after acquiring an additional 37 shares in the last quarter. Finally, HM Payson & Co. boosted its holdings in McCormick & Company, by 1.7% in the second quarter. HM Payson & Co. now owns 2,631 shares of the company’s stock worth $257,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 69.38% of the company’s stock.

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

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up $3.06 during trading on Friday, hitting $99.55. The stock had a trading volume of 1,359,900 shares, compared to its average volume of 883,159. The stock has a market capitalization of $12,639.90, a P/E ratio of 24.31, a PEG ratio of 2.44 and a beta of 0.53. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings results on Thursday, September 28th. The company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.07. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. McCormick & Company,’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. equities analysts expect that McCormick & Company, Incorporated will post 4.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Friday, October 6th. McCormick & Company,’s payout ratio is 51.93%.

Several research analysts have issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price target (up previously from $95.00) on shares of McCormick & Company, in a report on Monday, October 2nd. Credit Suisse Group reiterated a “buy” rating and issued a $115.00 price target (up previously from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. BidaskClub raised McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Citigroup Inc. increased their price objective on McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of McCormick & Company, in a research note on Thursday, July 27th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.00.

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McCormick & Company, 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.

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

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