Cornerstone Wealth Management LLC Invests $212,000 in McCormick & Company, Incorporated (NYSE:MKC)

Cornerstone Wealth Management LLC bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,571 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Champlain Investment Partners LLC lifted its position in McCormick & Company, Incorporated by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after acquiring an additional 136,080 shares in the last quarter. ProShare Advisors LLC lifted its position in McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after acquiring an additional 60,512 shares in the last quarter. Nuance Investments LLC grew its position in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after acquiring an additional 99,741 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after purchasing an additional 975,255 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE:MKC opened at $80.18 on Friday. The company has a market cap of $21.54 billion, a PE ratio of 29.26, a P/E/G ratio of 3.66 and a beta of 0.77. The business’s 50 day moving average is $81.01 and its two-hundred day moving average is $75.80. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 52 week low of $59.45 and a 52 week high of $85.49.

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, topping 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 firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts predict that McCormick & Company, Incorporated will post 2.92 EPS 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 given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Wall Street Analysts Forecast Growth

MKC has been the subject of several analyst reports. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their target price on 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 target 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. Finally, TD Cowen raised their price objective 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.57.

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.