Compass Ion Advisors LLC Acquires New Position in McCormick & Company, Incorporated (NYSE:MKC)

Compass Ion Advisors LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,440 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vest Financial LLC increased its holdings in McCormick & Company, Incorporated by 11.9% during the 3rd quarter. Vest Financial LLC now owns 656,940 shares of the company’s stock worth $54,066,000 after purchasing an additional 69,671 shares during the period. Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth about $49,000. Bartlett & CO. Wealth Management LLC grew its position in shares of McCormick & Company, Incorporated by 4.4% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 562,908 shares of the company’s stock worth $46,327,000 after buying an additional 23,744 shares in the last quarter. Blue Trust Inc. increased its stake in shares of McCormick & Company, Incorporated by 125.9% during the third quarter. Blue Trust Inc. now owns 2,087 shares of the company’s stock worth $172,000 after buying an additional 1,163 shares during the period. Finally, Stratos Wealth Partners LTD. raised its holdings in McCormick & Company, Incorporated by 3.1% in the third quarter. Stratos Wealth Partners LTD. now owns 79,653 shares of the company’s stock valued at $6,556,000 after acquiring an additional 2,394 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MKC shares. Bank of America boosted their price target 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 boosted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. One equities 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, the company currently has a consensus rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $80.18 on Monday. The company’s fifty day moving average price is $81.01 and its 200 day moving average price is $75.80. McCormick & Company, Incorporated has a 12 month low of $59.45 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. 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 issued 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 company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company posted $0.65 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

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.