Procyon Advisors LLC Has $240,000 Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Procyon Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,910 shares of the company’s stock after selling 326 shares during the quarter. Procyon Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MKC. Capital Advisors Ltd. LLC lifted its position in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the second quarter worth $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after purchasing an additional 228 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of MKC opened at $81.11 on Thursday. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a 52 week low of $59.45 and a 52 week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The business’s fifty day moving average price is $80.92 and its two-hundred day moving average price is $75.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results 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. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.07%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on MKC. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.