Wallington Asset Management LLC Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Wallington Asset Management LLC lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,136 shares of the company’s stock after buying an additional 136 shares during the quarter. Wallington Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MKC. Wealth Enhancement Advisory Services LLC boosted its stake in shares of McCormick & Company, Incorporated by 13.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 121,333 shares of the company’s stock valued at $9,320,000 after buying an additional 14,641 shares in the last quarter. WoodTrust Financial Corp boosted its stake in shares of McCormick & Company, Incorporated by 12.4% in the first quarter. WoodTrust Financial Corp now owns 5,450 shares of the company’s stock valued at $419,000 after buying an additional 600 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $215,000. Oak Thistle LLC purchased a new stake in McCormick & Company, Incorporated during the first quarter worth $658,000. Finally, Compton Financial Group LLC purchased a new stake in McCormick & Company, Incorporated during the first quarter worth $203,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the topic of a number of research analyst reports. Bank of America boosted their target price 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. TD Cowen boosted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Stock Up 0.6 %

Shares of NYSE:MKC opened at $79.37 on Thursday. 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 has a 52-week low of $61.12 and a 52-week high of $85.49. The stock’s fifty day simple moving average is $81.10 and its 200-day simple moving average is $75.86. The company has a market capitalization of $21.32 billion, a P/E ratio of 28.97, a P/E/G ratio of 3.66 and a beta of 0.77.

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, beating 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 business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business earned $0.65 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors 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 yield of 2.12%. McCormick & Company, Incorporated’s payout ratio 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.