Reik & CO. LLC Has $38.18 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Reik & CO. LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 463,848 shares of the company’s stock after selling 5,176 shares during the quarter. McCormick & Company, Incorporated comprises about 9.1% of Reik & CO. LLC’s investment portfolio, making the stock its 3rd largest holding. Reik & CO. LLC’s holdings in McCormick & Company, Incorporated were worth $38,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its holdings in shares of McCormick & Company, Incorporated by 97,525.5% in the second 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. increased its holdings in shares of 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 acquiring an additional 883,327 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of McCormick & Company, Incorporated in the second quarter worth about $51,286,000. Millennium Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after acquiring an additional 386,320 shares in the last quarter. Finally, Covea Finance bought a new stake in shares of McCormick & Company, Incorporated in the third quarter worth about $31,740,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.4 %

MKC stock opened at $76.34 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 business has a 50 day moving average price of $81.02 and a two-hundred day moving average price of $76.19. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio is 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

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

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.