Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 12.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,161 shares of the company’s stock after purchasing an additional 3,922 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in McCormick & Company, Incorporated were worth $2,976,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its holdings in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated in the second quarter valued at $35,000. Strategic Investment Solutions Inc. IL purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at about $39,000. Finally, Farmers & Merchants Investments Inc. increased its stake in McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after acquiring an additional 228 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

MKC opened at $80.18 on Monday. The firm’s 50 day moving average is $81.01 and its 200-day moving average is $75.80. McCormick & Company, Incorporated has a 52-week low of $59.45 and a 52-week high of $85.49. 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 firm has a market capitalization of $21.54 billion, a P/E ratio of 29.26, a P/E/G ratio of 3.66 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released 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. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the business earned $0.65 EPS. The business’s revenue was down .3% on a year-over-year basis. Analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MKC. Stifel Nicolaus lifted their price objective 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. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price objective on shares of 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, Bank of America raised their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.