McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Vest Financial LLC

Vest Financial LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 11.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 656,940 shares of the company’s stock after purchasing an additional 69,671 shares during the period. Vest Financial LLC’s holdings in McCormick & Company, Incorporated were worth $54,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Friedenthal Financial purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $49,000. Bartlett & CO. Wealth Management LLC boosted its holdings in McCormick & Company, Incorporated by 4.4% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 562,908 shares of the company’s stock valued at $46,327,000 after purchasing an additional 23,744 shares in the last quarter. Blue Trust Inc. boosted its holdings in McCormick & Company, Incorporated by 125.9% in the 3rd quarter. Blue Trust Inc. now owns 2,087 shares of the company’s stock valued at $172,000 after purchasing an additional 1,163 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in McCormick & Company, Incorporated by 3.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 79,653 shares of the company’s stock valued at $6,556,000 after purchasing an additional 2,394 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $1,325,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded up $0.16 during trading on Friday, hitting $80.18. 1,526,895 shares of the stock were exchanged, compared to its average volume of 1,927,508. 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 has a 12-month low of $59.45 and a 12-month high of $85.49. The company has a market cap of $21.54 billion, a PE ratio of 29.26, a P/E/G ratio of 3.66 and a beta of 0.77. The company has a fifty day moving average price of $81.01 and a two-hundred day moving average price of $75.80.

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 firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.65 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MKC shares. Bank of America lifted 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. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen boosted their price target on 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, Stifel Nicolaus boosted their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to 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 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.