IFM Investors Pty Ltd Raises Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

IFM Investors Pty Ltd lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,712 shares of the company’s stock after acquiring an additional 551 shares during the quarter. IFM Investors Pty Ltd’s holdings in McCormick & Company, Incorporated were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Grimes & Company Inc. boosted its position in shares of McCormick & Company, Incorporated by 0.8% in the third quarter. Grimes & Company Inc. now owns 81,660 shares of the company’s stock worth $6,721,000 after buying an additional 682 shares during the period. International Assets Investment Management LLC lifted its position in McCormick & Company, Incorporated by 7,350.5% during the 3rd quarter. International Assets Investment Management LLC now owns 91,865 shares of the company’s stock worth $7,560,000 after acquiring an additional 90,632 shares in the last quarter. Wallington Asset Management LLC boosted its holdings in McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after acquiring an additional 136 shares during the period. Spring Capital Management LLC grew its position in McCormick & Company, Incorporated by 15.7% in the third quarter. Spring Capital Management LLC now owns 57,876 shares of the company’s stock valued at $4,378,000 after acquiring an additional 7,843 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $1,719,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $77.86 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a 1 year low of $62.54 and a 1 year high of $85.49. The firm’s 50-day simple moving average is $81.16 and its 200-day simple moving average is $75.90. The firm has a market cap of $20.89 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

McCormick & Company, Incorporated Company 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.