Raymond James Financial Services Advisors Inc. Has $12.13 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,242 shares of the company's stock after buying an additional 14,348 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.07% of McCormick & Company, Incorporated worth $12,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company's stock valued at $8,216,000 after purchasing an additional 42,625 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in McCormick & Company, Incorporated by 8.1% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 179,009 shares of the company's stock worth $13,540,000 after acquiring an additional 13,440 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in McCormick & Company, Incorporated by 151.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 69,805 shares of the company's stock worth $5,280,000 after acquiring an additional 42,078 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in McCormick & Company, Incorporated by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company's stock worth $99,682,000 after acquiring an additional 19,962 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth about $2,789,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of several recent research reports. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday. Barclays increased their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an "equal weight" rating in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating on the stock in a report on Friday, January 26th. Consumer Edge downgraded McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a report on Monday, January 22nd. Finally, Citigroup increased their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a "sell" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $76.43.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $0.78 during mid-day trading on Friday, reaching $76.81. 2,583,936 shares of the stock were exchanged, compared to its average volume of 2,338,358. The company has a 50 day simple moving average of $68.42 and a 200-day simple moving average of $67.73. The stock has a market capitalization of $20.60 billion, a P/E ratio of 29.32, a P/E/G ratio of 3.97 and a beta of 0.73. The company has a quick ratio of 0.28, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $0.59 EPS. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 2.83 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. McCormick & Company, Incorporated's payout ratio is 64.12%.

Insiders Place Their Bets

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares of the company's stock, valued at approximately $430,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Maritza Gomez Montiel sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares of the company's stock, valued at approximately $430,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company's stock, valued at $2,554,601.20. The disclosure for this sale can be found here. 22.90% of the stock is owned by insiders.

About McCormick & Company, Incorporated

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.