McCormick & Company, Incorporated (NYSE:MKC) Stock Position Raised by Grimes & Company Inc.

Grimes & Company Inc. lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,660 shares of the company’s stock after buying an additional 682 shares during the period. Grimes & Company Inc.’s holdings in McCormick & Company, Incorporated were worth $6,721,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC grew its position in McCormick & Company, Incorporated by 87.5% in 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 stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. acquired a new stake in McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the second quarter valued at approximately $39,000. Finally, Friedenthal Financial acquired a new stake in McCormick & Company, Incorporated during the third quarter valued at approximately $49,000. Institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MKC shares. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped 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. TD Cowen upped 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 report on Wednesday, October 2nd. Finally, Bank of America upped their price target 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of MKC traded down $0.43 during mid-day trading on Thursday, hitting $78.94. 27,777 shares of the company’s stock were exchanged, compared to its average volume of 1,924,066. The firm has a fifty day moving average of $81.10 and a two-hundred day moving average of $75.86. McCormick & Company, Incorporated has a twelve month low of $62.10 and a twelve month high of $85.49. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 28.97, a P/E/G 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 (EPS) 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm earned $0.65 EPS. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

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.