USA Financial Formulas Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

USA Financial Formulas purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, HoldingsChannel.com reports. The fund purchased 2,060 shares of the company’s stock, valued at approximately $170,000.

Several other large investors have also bought and sold shares of the business. Capital Advisors Ltd. LLC boosted its holdings in McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying 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. acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth $35,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated during the second quarter worth about $39,000. Finally, Farmers & Merchants Investments Inc. grew 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 purchasing an additional 228 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction that occurred 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 owns 199,258 shares in the company, valued at $14,944,350. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 22.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MKC. Bank of America raised their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen raised their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” 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. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $79.78 on Friday. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49. The company’s 50 day moving average price is $80.60 and its two-hundred day moving average price is $75.58. The firm has a market cap of $21.43 billion, a PE ratio of 27.14, a PEG ratio of 3.66 and a beta of 0.77. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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. The business had revenue of $1.68 billion during 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%. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.11%. McCormick & Company, Incorporated’s 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.