Integrated Advisors Network LLC Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Integrated Advisors Network LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,796 shares of the company’s stock after buying an additional 686 shares during the quarter. Integrated Advisors Network LLC’s holdings in McCormick & Company, Incorporated were worth $312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Boston Financial Mangement LLC raised its stake in shares of McCormick & Company, Incorporated by 10.5% in the third quarter. Boston Financial Mangement LLC now owns 8,120 shares of the company’s stock valued at $668,000 after acquiring an additional 770 shares in the last quarter. abrdn plc increased its holdings in McCormick & Company, Incorporated by 3.2% during the 3rd quarter. abrdn plc now owns 497,674 shares of the company’s stock worth $41,175,000 after purchasing an additional 15,429 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at about $223,000. State of Alaska Department of Revenue boosted its stake in shares of McCormick & Company, Incorporated by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,252 shares of the company’s stock valued at $2,407,000 after buying an additional 1,985 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of McCormick & Company, Incorporated by 2.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 50,897 shares of the company’s stock worth $4,212,000 after buying an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of several analyst reports. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company 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. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One 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. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $78.75 on Friday. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The firm has a market capitalization of $21.13 billion, a P/E ratio of 26.79, a P/E/G ratio of 3.56 and a beta of 0.77. 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 company’s fifty day moving average price is $81.11 and its 200 day moving average price is $76.06.

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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

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.