Profit Investment Management LLC Has $831,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

Profit Investment Management LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,092 shares of the company’s stock after selling 167 shares during the period. Profit Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $831,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC increased its position in McCormick & Company, Incorporated by 87.5% in the second 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 period. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated in the second quarter valued at about $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated during the second quarter worth about $35,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $39,000. Finally, Farmers & Merchants Investments Inc. raised its position in shares of McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after acquiring an additional 228 shares during the period. 79.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Stock Up 0.6 %

Shares of MKC traded up $0.47 during midday trading on Friday, hitting $80.25. The stock had a trading volume of 167,545 shares, compared to its average volume of 1,934,768. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. The company has a 50 day simple moving average of $80.63 and a two-hundred day simple moving average of $75.61. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve 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.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. On average, analysts anticipate 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. Stockholders of record on Monday, October 7th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

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.