Boston Financial Mangement LLC Purchases 770 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Boston Financial Mangement LLC grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,120 shares of the company’s stock after purchasing an additional 770 shares during the quarter. Boston Financial Mangement LLC’s holdings in McCormick & Company, Incorporated were worth $668,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MKC. Capital Advisors Ltd. LLC boosted its stake 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 bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Finally, Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $49,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

MKC opened at $77.48 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $81.15 and its two-hundred day moving average price is $75.98. McCormick & Company, Incorporated has a 1-year low of $62.72 and a 1-year high of $85.49. The company has a market cap of $20.81 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.62 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. TD Cowen boosted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America boosted 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 report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $79.57.

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.