Piedmont Investment Advisors LLC Invests $495,000 in McCormick & Company, Incorporated (MKC) Stock

Piedmont Investment Advisors LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,825 shares of the company’s stock, valued at approximately $495,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zions Bancorporation raised its holdings in McCormick & Company, Incorporated by 5,071.4% in the 3rd quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock valued at $111,000 after buying an additional 1,065 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings 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 purchasing an additional 866 shares during the last quarter. Dupont Capital Management Corp bought a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $173,000. YorkBridge Wealth Partners LLC bought a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $174,000. Finally, BlueMountain Capital Management LLC raised its holdings 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 purchasing an additional 1,616 shares during the last quarter. Institutional investors and hedge funds own 76.25% of the company’s stock.

Several research analysts have issued reports on MKC shares. Zacks Investment Research lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Credit Suisse Group raised their price target on shares of McCormick & Company, Incorporated from $108.00 to $112.00 and gave the stock an “outperform” rating in a report on Monday, September 18th. Jefferies Group set a $120.00 price target on shares of McCormick & Company, Incorporated and gave the stock a “buy” rating in a report on Monday, October 30th. Citigroup raised their price target on shares of McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Finally, BidaskClub upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $106.67.

In other news, VP Michael R. Smith sold 5,500 shares of the firm’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 transaction 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 approximately $1,974,844.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maritza Gomez Montiel sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $96.26, for a total transaction of $240,650.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,000 shares of company stock valued at $1,598,490. Insiders own 15.30% of the company’s stock.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded up $1.19 during mid-day trading on Friday, hitting $101.43. 1,285,792 shares of the stock traded hands, compared to its average volume of 932,351. The firm has a market cap of $13,287.03, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. McCormick & Company, Incorporated has a one year low of $89.65 and a one year 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, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, September 28th. The company reported $1.12 EPS for the quarter, topping the 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, Incorporated had a net margin of 10.05% and a return on equity of 26.09%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. equities analysts expect that McCormick & Company, Incorporated will post 4.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.52 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.08 annualized dividend and a dividend yield of 2.05%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 51.93%.

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McCormick & Company, Incorporated 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, Incorporated (NYSE:MKC)

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