McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 96,202 shares of the company’s stock after selling 567 shares during the period. US Bancorp DE’s holdings in McCormick & Company, Incorporated were worth $7,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its holdings 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 purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the second quarter worth $29,000. 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $39,000. Finally, Friedenthal Financial acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MKC shares. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen increased their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upped their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $78.75 on Monday. The business’s fifty day moving average price is $81.11 and its 200 day moving average price is $76.12. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The company has a market capitalization of $21.13 billion, a PE ratio of 26.79, a P/E/G ratio of 3.57 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

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

McCormick & Company, Incorporated Announces Dividend

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

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.